{"id":156121,"date":"2020-03-23T22:13:45","date_gmt":"2020-03-23T22:13:45","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=156121"},"modified":"2020-03-24T00:28:44","modified_gmt":"2020-03-24T00:28:44","slug":"markets-sink-in-wild-trading-as-washington-debates-a-rescue-package","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/markets-sink-in-wild-trading-as-washington-debates-a-rescue-package\/","title":{"rendered":"Markets sink in wild trading as Washington debates a rescue package"},"content":{"rendered":"

It was another day of wild swings on the market, which began with futures plunging to their 5% limit on Sunday night. U.S. Senate Democrats and Republicans<\/a> had failed to agree on a stimulus package worth at least US$1.6\u00a0trillion.<\/em> Suddenly, markets popped into the green at Monday’s morning bell. The catalyst was Jerome Powell who announced that the U.S. Fed would be buying unlimited amounts of U.S. treasuries and mortgage-backed securities<\/a>.<\/p>\n

It’s an unprecedented move to keep money flowing to American companies big and small, cities and citizens during a crisis that could be more severe than even the 2008-9 recession. The see-saw session ended with the S&P and Dow losing 3%, though the tech-heavy Nasdaq shed only 0.27%, supported by names like Amazon<\/a>, up 3% and Netflix<\/a>, rallying 8.24%. Faring worse was the oil-heavy TSX fell 5.26%. Materials continued to be the safe haven with Silvercorp<\/a> soaring 31% and Argonaut Gold<\/a> rallying nearly 16%. However, beaten-up names like Cargojet<\/a> enjoyed a 10.46% rise, as did Canada Goose<\/a>, gaining 9.15%.<\/p>\n

A glimmer of hope amid this gloom comes from, ironically, China. There are no new native cases with only a handful trickling in from people re-entering from various effected countries. Bloomberg estimates that 85% of China’s economic activity<\/a> has returned, except the epicenter of Hubei.<\/p>\n

📦 Amazon.com<\/a> +3%
\n📺 Netflix Inc.<\/a> +8.24%
\n🥈 Silvercorp Metals Inc.<\/a> +31%
\n🥇 Argonaut Gold<\/a> +16%
\n✈ Cargojet Inc<\/a> +10.46%
\n🧣 Canada Goose Holdings<\/a> +9.15%<\/p>\n","protected":false},"excerpt":{"rendered":"

It was another day of wild swings on the market, which began with futures plunging to their 5% limit on Sunday night. U.S. Senate Democrats and Republicans had failed to agree on a stimulus package worth at least US$1.6\u00a0trillion. Suddenly, […]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-156121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/156121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=156121"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/156121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=156121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=156121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=156121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}