The market opened with the SPX slightly lower (-1.33)m, but sell all day and fell fast.
It was a bloodbath with the Dow closing down -603.41 (28,256.03), the SPX closed down -58.14 (3225.52), AAPL closed down -14.36 309.51), the TLT/Bonds up 1.32 (145.18), and the VIX closed up 3.35 (18.84), higher by 21%.
One: The number of Coronavirus patients increased drastically higher that expected.
Two: There were some reports that the Coronavirus may be a biological warfare project that not only leaked out accidentally, but also may have the HIV virus embedded in it. I have no way of knowing if the HIV is embedded in the virus; however, there seems to be more than circumstantial evidence that the virus was stolen out of Canadian and US labs by Chinese scientists. They can't be content stealing out technology and intellectual property? Who knows what the truth is anymore after being gas-lighted by the media for so long?
Three: Economic numbers were lackluster.
MOST IMPORTANT, and the one I totally forgot about, is that China markets were closed on Friday for the holidays. There were reports that China was going to prevent selling when the markets reopened on Monday, so what does one do to hedge? You sell the US markets as a hedge. So the more the markets fell, the more people felt the need to sell to limit heir losses in the Chinese markets.