XL dev

Daily Market Update
with JJ Kinahan

5 min read

Department of Correction: DJIA, SPX On Verge of 10% Drop From Peak As Virus Spreads

(Thursday Market Open) A correction appears imminent. Major indices are set to start out 10% below their recent highs, the first time that’s happened since late 2018.

Fear still has a tight grip today, and unlike fear around something financial like a trade war or rate hikes, it’s hard to say when this anxiety will let up. Stock futures slipped after the Centers for Disease Control and Prevention (CDC) confirmed the first U.S. coronavirus case of unknown origin in Northern California, indicating possible “community spread” of the disease.

That’s probably not all that surprising, but does raise a red flag around the U.S. consumer. One consistent theme over the last year is U.S. consumer health. If people start getting scared and staying home due to the virus, that could have a chilling impact on the economy after it weathered the trade war last year. Online shopping could ease the pain, but it still represents just a small percentage of consumer activity overall.

Read article
TD Ameritrade Network Logo

Don't just watch the news. Use it.

TD Ameritrade Network is brought to you by TD Ameritrade Media Productions Company. TD Ameritrade Media Productions Company and TD Ameritrade, Inc., member FINRA/SIPC are separate but affiliated subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Media Productions Company is not a financial adviser, registered investment advisor, or broker-dealer.



Knowledge: one of your most valuable assets

Call Us

Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.

Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.


Market volatility, volume, and system availability may delay account access and trade executions.

Past performance of a security or strategy does not guarantee future results or success.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.

Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2020 TD Ameritrade.

Scroll to Top