Happy Black Monday fellow monkeys. I have seen a lot of discussions over Twitter as to what we should do to address the coronavirus situation. A popular idea that I have seen being thrown out in the last couple of days is to temporarily close down the markets until we can get a better understanding of what we are dealing with.
So what do you think we should do in response to COVID-19, and why or why not should we consider closing the markets?
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Closing the markets will not change anything except to delay the declines, just like circuit breakers do very little to stop the selling. We have a free market and sometimes, this is what happens.
Just because the market isn't going your way?
Closing markets is for dictators and totalitarian states. It would take years to build up the trust in the markets following a complete closing of the markets. We are dealing with extreme volatility, but this is part of the downside of a free market.
Why would we close the markets?
Down 3,000 points today. Almost 13%. Sucks, but what goes up can go down.
For the record I completely agree. Was just curious of what WSO thought as I have seen this idea thrown out a lot
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