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Brace for More Fear and Panic on Wall Street as Markets Tumble

Monday's stock market declines weren't unexpected, though the extent of losses was shocking. As COVID-19 hot spots cropped up across the globe and infections rose along with fatalities in U.S. cities and states over the weekend, sell orders flooded brokerages before markets even opened Monday morning. So many sell orders in fact, markets couldn't open. Instantaneous and extraordinary selling knocked stocks "down limit," or 7%, at the open, triggering a "circuit-breaker" halt to trading for 15 minutes. Stocks closed 144 points off their session lows of 2,158, ending down 2,013.76 points to 23,851.02. That's a 7.79% drop in one day, and a 19.3% drop since Feb. 12. Most evident in yesterday's carnage were the market's worst enemies: fear and panic. That tells our Shah Gilani something about what he's watching today... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Brace for More Fear and Panic on Wall Street as Markets Tumble appeared first on Money Morning - We Make Investing Profitable .
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