Another Day, Another Circuit Breaker
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 16 March 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
The Federal Reserve cuts interest rates to zero and announced a $700 purchase of government and mortgage bonds. Despite that move the market fell 9% immediately at the open, triggering a circuit breaker. Chief Investment Officer Andy Cross weighs in on the volatility in the market, what it means for housing, which industries investors should avoid, and where he’s looking for opportunities.
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Transcript
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| 0:00.0 | Another Monday, another circuit breaker triggered, this time 30 seconds into the trading day. |
| 0:08.0 | It's another crazy day, folks. |
| 0:11.0 | We're going to get through this. Chief Investment Officer Andy Cross and I just came |
| 0:16.0 | from a 75 minute live Q&A that we did with Motley Full Members. So we just came to the studio, recorded something quick, so that's what you're going to hear today. |
| 0:27.0 | And it's brought to you by Indeed. Are you hiring? |
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| 0:41.8 | That's Indeed.com slash motley. That's indeed dot com slash motley |
| 0:46.1 | It's Monday March 16th. Welcome to market foolery. I'm Chris so with me in studio today |
| 0:50.8 | Chief Investment officer here at the motley Full of Tandy Cross. |
| 0:53.2 | Thanks for being here. |
| 0:54.0 | Absolutely, Chris. |
| 0:54.8 | Thank you. |
| 0:55.8 | So you and I just walked down from the fifth floor where we did a 75 minute live video Q&A with Motley Full members and I just wanted to sort of reflect on that and also what's happening and for I'm assuming most of the dozens of listeners are aware |
| 1:15.6 | of where we're at right now but just in case on Sunday the Federal Reserve |
| 1:20.4 | announced interest rates are being cut to zero, buying 700 billion in government |
| 1:26.7 | and mortgage-backed bonds. |
| 1:29.8 | And just like a week ago Monday, 30 seconds into the trading day. |
| 1:36.6 | The circuit breaker gets triggered, the market tanks. |
| 1:40.6 | And I'm looking for signs of solace out there. |
| 1:46.6 | One for me personally is the banks appear to be in better shape |
... |
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