Sunday, March 22, 2020

The Thinking on Closing the Markets

Coronavirus News: Philippines Is First Country to Shut Markets - Bloomberg: The Philippine stock exchange chief said he plans to reopen the $188 billion market on Thursday, seeking a quick resumption of trading after the country became the first to shut financial markets in response to the widening coronavirus pandemic.

We spoke to a savvy market veteran at TDAmeritrade last week, and he said he thought it was considered here, but that U.S. officials did not want to allow other markets to dictate our prices.  So the concept of market close in a nutshell:  either everyone stays open or everyone closes.  Since other markets wished to remain open, so did the U.S.

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