True

Asian markets fall sharply again and you can bet the rest of world markets will follow ...but the real massacare is on crude oil ,falling more than 25% .

Started out in the Gulf countries: limit down for Kuwait & Aramco tanked below its IPO price. The crude sell-off from that OPEC+ fallout is a potential source of alot of pain for the global economy. Other than oil dependent countries getting in trouble, there will be alot of pain in the credit markets which is alot scarier than deficit funding of economies. Perhaps @hisah's prediction of crude printing less than $15pb might just come to fruition

Dow futures are down 1200+ points easily beating the previous record in the last week of February. CBs are simply ill equipped to deal with this kind of menace that is inflicting both supply and demand shocks. Another down leg for the NSE as support turns resistance.

Some day yesterday was! Gap ups, gap down, circuit breakers, limit downs, system glitches...action packed all round. Dow dumped 2013 points despite activation of halts on trading and is now about 200 points shy of bear territory. European markets are in bear territory already and they haven't seen the worst of the pandemic yet. MIB was 15% at some point and its futures shed another 11% as the country institutes a countrywide lock down. For oil and its corollaries it was a beat down like no other since 1991. The fear here is a contagion into the credit market which is already acting up.

I think we have seen the low in USTs where yield on the 10yr went sub 0.5% and the entire yield curve was below 1% as markets gauge the possibility of negative interest rates in the US. Recession in Japan, Australia and Europe (wonder how schengen will hold up) is now a dead certainty. Oil and commodity dependent countries will quickly follow if the Saudi-Russia tiff continues amid weakening demand. Tourism dependent countries (most of Southern Europe) may recover in Q2 if the virus is contained early. For China, US and India it is mostly a question of how deep the damage is. With all three slowing down it isn't a good outlook for the global economy in 2020 as they've been doing most of the heavy lifting in terms of growth, consumption, investment, tourism and manufacturing.

NSE20 dropped below 2360 again to close at 2335.95 yesterday which lower than the earlier Feb low. Asian and European market recoveries today will help stem the bleeding for now. FY19 results however positive might not amount to much in terms of bouying the market.

Iam waiting for the next rally to exit and wait for the lowest point or watch the market flying in my absence