All Hell Is Breaking Loose In The Stock Market As Major Threats Emerge! - Epic Economist
All hell is breaking loose on the stock market as major threats emerge in the system. Last week, fear of a financial crisis unleashed widespread chaos across markets, plunging bank stocks and sending shockwaves that could result in a disastrous selloff when trading resumes tomorrow. According to some big market players, conditions are looking a lot like those of 1929. Scary predictions and warnings about what will happen next for stocks don’t stop coming, and angst over inflation, interest rates, recession, and systemic risks are making the odds of a brutal stock market crash look more imminent than ever.
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Financial markets were already facing a period of extraordinary anxiety over tighter credit conditions, worsening outlooks for businesses, and deteriorating economic conditions when a sudden string of U.S. bank failures exponentially raised the risk of a stock market crash in a span of just seven days.
Right now, investors across stocks, bonds, and commodities are in crisis mode. Several key indications are revealing signs of extreme stress, with some nearing levels last seen during previous turmoils. Optimism has vanished, and now investors are increasingly seeking insurance against a potential flash crash in stocks as they brace for more tumult in the market this week after worries over a banking system collapse shook asset prices over the last week.
All of these developments prompted Tesla CEO Elon Musk to warn that there were frightening similarities between the collapse of Silicon Valley Bank and the crisis that triggered the 1929 Wall Street crash. “Lot of current year similarities to 1929,” he said on Twitter Tuesday, in response to a thread by Ark Invest CIO Cathie Wood. In late October 1929, the Dow Jones Industrial Average plunged 23% in two days, signaling the start of the Great Depression. And now Morgan Stanley’s Mike Wilson is alerting about a potential 22% flash stock market crash by the end of this month.
In a new note to clients, Wilson said he sees the S&P 500 falling to a low of 3,000 after the Fed meeting this coming Wednesday, representing a further 22% downside from current levels. Similarly, JPMorgan analysts added that if inflation stays higher than the Fed and investors would like, “it could spark further downside for a March sell-off that appears to have already kicked off.”
On Friday, stocks plummeted as investors pulled back from positions in risky assets. The Dow Jones Industrial Average lost almost 400 points, to close at 31,861.98 points. The Nasdaq Composite slid 0.74%, and the S&P 500 lost 1.10% and is now 5% from February levels. Markets closed at a critical moment. “There’s nervousness into the weekend of: How does this all look on Monday?,” says Keith Buchanan, senior portfolio manager at Globalt Investments. “The market is nervous about holding stocks into that.”
The big question at the moment is how far the contagion will spread in the coming days. Analysts are bracing themselves for another rash of selling Monday morning, and things could get a lot worse than they already are. We will soon find out if they are right. But whatever happens, this is all a sign of a much bigger crisis that will ravage the financial world in 2023. This won’t be just a banking crisis or a stock market crash. It will be an everything collapse that will repercuss for years to come.
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