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Trading Strategies

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.

Investors had been selling stocks for the previous two weeks on coronavirus fears, starting immediately after U.S. benchmark indexes made record highs on Feb. 12, 2020.

A "dead cat bounce" last week didn't fool seasoned traders, who saw huge inflows into U.S. Treasuries last week as a warning sign there was more equity selling to come.

As COVID-19 hotspots cropped up across the globe and infections rose along with fatalities in U.S. cities and states over the weekend, right on cue, 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.

After 15 minutes, exchanges let stocks trade again, and they fell another 1% before buyers, probably computer-driven algorithms, started buying beaten-down names like Microsoft and Amazon.

But buying volume was thin all day, and sellers more often overwhelmed attempts to lift stocks higher.

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 me something about what I'm watching today… Full Story

Most evident in yesterday's carnage were the market's worst enemies: fear and panic. That tells me something about what I'm watching today...

Stocks

Here's the Best Oil Stock to Buy as North American Oil Production Booms

Earlier this year, the United States began producing over 10 million barrels of oil a day – the greatest level of production since 1970.

Meanwhile, Canadian oil companies are on track to finish in the black for the first time in three years thanks to growing international demand.

With North American oil production hitting record highs for the first time in decades, we're bringing you the best oil stock to buy in order take advantage of this booming industry...

Dow Jones

Stock Market News Today: Dow Dips as Trump Election Rally Hits Standstill

The stock market news today is the Dow falling in premarket hours as investors weigh the stability of the post-election rally.

Markets are also looking for additional clues into the timing of the next interest rate hike by the Federal Reserve and OPEC's plans to cut additional oil output in the months ahead.

Here's a look at today's most important market events and stocks, plus a look at today's economic calendar.