WHO chief on coronavirus: Global markets ‘should calm down and try to see the reality

[Nighthawk]

Market panic over the fast-spreading new coronavirus is uncalled for, the World Health Organization’s director-general said Sunday as governments around the world rush to contain its spread.

“Global markets … should calm down and try to see the reality,” Tedros Adhanom Ghebreyesus told CNBC’s Hadley Gamble during a panel discussion at the King Salman Humanitarian Aid Center’s International Humanitarian Forum in Riyadh. “We need to continue to be rational. Irrationality doesn’t help. We need to deal with the facts.”

The comments come after global stocks were slammed in their worst week since the 2008 financial crisis. The Dow Jones plunged a whopping 3,500 points across the week, more than 12%, its largest weekly point loss ever and biggest percentage drop in 12 years.

https://www.cnbc.com/2020/03/01/who...bal-markets-should-calm-down-see-reality.html

The "NO $HIT SHERLOCK" PRICE GOES TO: Tedros Adhanom Ghebreyesus....

 

[Cuddles]

i want to know if a quid pro quo involving withheld funds and a promise of a public statement were made.

 

[volpri]

i want to know if a quid pro quo involving withheld funds and a promise of a public statement were made.

 

[southall]

So far its been a pretty orderly drop, taking us back down to price levels of just a few months ago.

 

[themickey]

The way to keep calm is to repress everything.....via gummint 'control'......

https://www.theguardian.com/comment...-lockdown-chinese-social-media-laughter-anger
Since the outbreak was officially announced more than a month ago, less than one-third of China’s 300 million migrant workers have returned to work a fortnight after the lunar new year break; 270 million children, according to China’s official news agency, are staying home as schools remain shut throughout China.

There’s strictly no congregating – or socialising – in this new world order. Many cities have banned public gatherings altogether, and official advice has been “Stay in, don’t go out unless necessary”, resulting in many empty streets. Nationwide, cinemas are closed and performances at Beijing’s top arts venues have been cancelled until April. Wuhan, a city of more than 11 million, remains in lockdown. As a result, online social activity and subcultures have bloomed, and state media has joined in too.......

 

[southall]

https://www.theguardian.com/comment...-lockdown-chinese-social-media-laughter-anger

That article made no mention of how people are coping with loss of income? I suppose its early days yet, 1 month isn't too bad. And if you are not leaving the house you are not going to be spending much, and you can live off noodles for a while like a student. Although the household bills still need to be paid.

 

[TommyR]

spare a thought and prayer for those with the very major issue of too much cash. no opportunity. swimming pools filled with cash it's like boeing planes they don't have anywhere to put it.

 

[Seaweed]

So far its been a pretty orderly drop, taking us back down to price levels of just a few months ago.

Exactly right. Sure, a 10% drop causes alarm bells to go off, but when you are back to the levels from just 7 or 8 months ago, it's not that tragic. Losing years of gains is another matter.

 

[southall]

Exactly right. Sure, a 10% drop causes alarm bells to go off, but when you are back to the levels from just 7 or 8 months ago, it's not that tragic. Losing years of gains is another matter.

We currently at October 2019 levels in the Dow and December levels in the Nasdaq. So not even a 7 or 8 month drop.

 

[vanzandt]

a fortnight