S&P 500 today suffers 3rd largest one-day percentage loss ever (-11.98%), after also having 17th largest percentage loss ever last Monday, and 5th largest loss ever on Thursday. The stock market is officially in crash mode.

submitted by magnora7 from (finance.yahoo.com)

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[–]magnora7[S] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

This is 2008 but faster, it's finally arrived.

If you have stocks, you should probably get out if you haven't already, and get back in when it bottoms out. I imagine it will fall a total of 50% or so over the next few months, and probably bottom out around June or July 2020.

Then you can probably buy back in as it's hitting bottom and it'll slowly grow back to where it was over the next 10 years, just like it did in 2008. If you invest in stocks, that'd be the way to do it, imo.

I think the next 3 months or so are not going to be pretty for the stock market, even with the fed suddenly returning rates to 0% and buying up $700 BILLION of treasuries suddenly.

[–]solder0 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

Instead of panicking I should ask; what else should I invest in?

[–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

Gold is still low and hasn't moved yet according to https://youtu.be/2CLXbMOMxAo?t=589 and will soon rocket. At 9/11 I think it was an instant rocket.

/u/magnora7 Thoughts?

[–]magnora7[S] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Everyone is panicking and going in to cash. I imagine in about a couple weeks we'll see gold and cryptos start to come back, but the stock market will keep crashing.

[–]solder0 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

I will trade some of my silver coins for gold ones. But what I really want is something that earns dividends. I'm having a hard time believing that biotech will be suffering right now.