Dow Jones stock market crashes 3,000 points in biggest single day loss ever

[ARMalik]

It's bad if you bought a few weeks ago. But if you buy right now it's a literal cash grab. I got several stocks for 1/2 and 1/3 of that they usually are.

Interesting - which sectors did you buy into?

 

[Aspen]

Interesting - which sectors did you buy into?

United Airlines for $32.67 and Harsco for $6.33

 

[HttpError]

United Airlines and Harsco

Can overseas buy stocks in US?

 

[Aspen]

Can overseas buy stocks in US?

If you have any relatives in US, send them the money so they can buy stocks for you.

There are some international brokerage firms that can buy for you but it can take a day or two for them to receive your stock bid and stock price can change $10 or more in less than a day. Some of the international brokers charge high fees which can eat into your stock profits so find whichever service has the lowest trading fees and go with that.

Reason you need an international brokerage firm or relative in US is that to register for US stock trading services like TD Ameritrade, they have to verify if you are a US citizen with info like address and social security number. If you use an international broker, then you don't have to be a US citizen.

I have heard there are some good brokerage firms in the Middle East like Dubai that can broker between US and Pakistan, if you have friends investing in Karachi stock exchange, they could probably give you a good recommendation as well. But all of those brokerage firms whether based in Middle East/Europe/Pakistan will charge some kind of international transaction fee which can be expensive. Sometimes the fee can actually cost more than how much you make on the stock so make sure you find someone with a low fee or buy at least 10-20 stocks so that it outweighs the fees.

If you have a relative in US, send them money and ask them to buy for you because the fee for US citizens is much lower and the processing time is almost instant. Or if they're ok with giving you password to their account, you can convert PKR to USD, transfer it to their account and log in on your own computer.

If you are interested in buying stocks, it is not too late, very likely stock market is going to crash again tomorrow and probably another time after that. Stocks will keep falling for at least two weeks, so if you buy 20+ shares in stocks in the next two weeks, you will make some serious money when it goes back up.

 

[ARMalik]

United Airlines for $32.67 and Harsco for $6.33

We have plenty of buying opportunities here as well. There is SACL which owns Sydney Airport and it has fallen around 40%. All the major banks here are down 30 to 40%. Interestingly Berkshire Hathaway in US has only fallen 25%.

 

[Nasr]

The end of America as a superpower is near now. With it's total national debt running the tens of trillions of dollars, and employment is based largely on a "Gig Economy". Russia and China challenge American hegemony by break the back of the "Petrodollar" by trading oil in any currency other than the us dollar. The coronavirus is just a means by the american economy will crumble. Rest assured, "a day like a month is about to end and a day like a week shall commence shortly after."

 

[Clutch]

Did anybody anticipate a virus causing global economic meltdown?

This is a 'mere warning' from Allah Almighty to the entire world - look how fragile you all are. Fear him and just him.

I hear you.

Just make sure you have no debts. For those with land outside of urban area, you may need as much self sustenance as much as possible. If you carry a heavy debt load including a mortgage, car loans, credit card debt, and/or student loans... you are at high risk right now.

Im not some extreme prepper, but I think in today's uncertainty it may be wise to have a plan-B.... just in case.

 

[xyxmt]

i think people should buy stocks of drug and medical equipment for corona virus manufacturing companies as their shares will go high,similarly grocery stores like wallmart will also show high earnings due to more people buying goods for storage because of fear of corona virus as well as freelancing sites and social media companies will also face less loss as many schools using online services for education and people are more switching to work from home based jobs

Grocery stores will have same sale as the virus fear subsides people will start using their stocks and buying less.

 

[Aspen]

Grocery stores will have same sale as the virus fear subsides people will start using their stocks and buying less.

Also teleconferencing companies like Zoom are doing really well.

 

[xyxmt]

Also teleconferencing companies like Zoom are doing really well.

just a short lived side effect of virus, a year from now people wont pay much attention to these.

 

[LeGenD]

The end of America as a superpower is near now. With it's total national debt running the tens of trillions of dollars, and employment is based largely on a "Gig Economy". Russia and China challenge American hegemony by break the back of the "Petrodollar" by trading oil in any currency other than the us dollar. The coronavirus is just a means by the american economy will crumble. Rest assured, "a day like a month is about to end and a day like a week shall commence shortly after."

Zionism transcends national boundaries and it may have multiple hosts around the world. Greatest issue of modern-era Muslims is that many have sold their souls to worldly gains and False Gods and are therefore in deep shit and plagued with FITNA and FASAAD. These False Gods will never address our problems - they will continue to use other states as PAWNS in their great game (WEST vs. ASIAN) which is a cause without meaningful end.

USA is a mischievious entity (no doubt about this) but this reality does not absolve others for there role in corruption and mischief at global stage. Recall this simple saying: "taali do haath se bajti hai."

Do you know that Russian jews founded zionist movement? Well, Israel is a byproduct of it.

Russians might be nice people in general but Russia is among the most dangerous and mischievious 'states' in existence. They have an equal hand in inciting violence in Muslim lands in the previous COLD WAR.

Dig into the role of KGB in fueling wars between Arabs and Israel when the latter entrenched itself in Capitalistic camp. Iraq vs. Iran was another unfortunate byproduct of COLD WAR. Afghanistan was a strategic miscalculation of USSR in favor of Afghan communists, and this intervention had global repercussions as well; it fueled the menace of Salafi Jihadism across the Islamic bloc which continue to hurt Muslims to this day and millions have lost their lives in the process. This bhoot of jihad against Israel will only lead to more death and destruction; they are not without destructive weapons and power, mind you.

WE live in the times of revival of the Order of GOG and MAGOG (this time on global scale) in which two polar opposite 'superpowers' (WEST vs. ASIAN) continue to shape global events pitting states against each other in the process and fuel corruption and mischief in this manner. These superpowers have a hand in planting pliant leaders in other states so that these states continue to serve their interests (willingly or unwittingly), and countless people continue to suffer at their hands.

Muslims must shun corruption in all its forms, believe in Allah Almighty only, unite under his banner, and create a new superpower in the process - one which strives for justice, prosperity and pan-Islamic values across the world (MEHDI movement). However, this is not acceptable to the Order of Gog and Magog and they will stand in our way. This ugly Order is now taking new shape (USA vs. Russo-China duo) and the strings are already being pulled from both camps to sway other states to their respective causes = more destructive wars will follow, and this time the very existence of some states including Pakistan and Israel will be on the line.

This is why it is exceedingly important for Pakistan to develop a functioning economy and loosen itself from the clutches of any superpower and be a partner in peace only. Stay away from any Cold War, period.

Now, coming to the economic part:

Debt does not increase on its own, numerous wheels of economy are in motion including growth in revenues. Debt is an integral component of modern financial system and a method of financing - people are mistakenly spooked about it.

However, no economic system is foolproof in the face of global calamities. Look how bad Chinese economy is hit lately: https://www.theguardian.com/world/2...s-deals-chinas-economy-a-bigger-blow-than-gfc

Regarding petrodollars; while this economic system enabled USA to fund its Cold War agenda for indefinite period (endless printing of currency in times of need), this system is also the single greatest driver of American national debt and also a source of depression for American domestic manufacturing industries. Following is a nice opinionated piece: https://www.mining.com/nixon-gold-and-oil/

However, Petroyuan is not a viable substitute either, and it may not work.

American shale revolution have shaken OPEC to its core lately, and expect more surprises to come. Wall Street encompass some of the greatest economic minds in the world. They have amassed largest reserves of Gold just in case. If a global economic reboot materialize, they are ready for this eventuality.

So yes, believe in Allah Almighty only. At minimum, WE can strive to be good Muslims on a personal level. On a greater level, WE should strive for pan-Islamic solutions to our problems.