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Skimm This

Pump the Brakes: The Stock Market and COVID-19

Skimm This

theSkimm

News

4.53.6K Ratings

🗓️ 9 March 2020

⏱️ 14 minutes

🧾️ Download transcript

Summary

The markets took a nosedive today. And in response, Wall Street found the brakes and stepped on them. We’ll explain what happened and what it means moving forward. Meanwhile, the beginning of the week might have you dreaming about taking a vacation. But heads up: the US government is warning people against booking their dream cruise. Also on the show: Mexico City finds out what a day without women looks like. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Monday, March 9th.

0:03.1

Welcome to Schim this.

0:04.4

We're breaking down the most complex stories of the day and giving you the context on why

0:08.3

they matter.

0:09.3

Today, the markets took a nose dive.

0:12.3

So much so that Wall Street found the breaks and stepped on them.

0:15.5

We'll explain what the hell happened today.

0:18.3

Then we'll tell you why the US government is actively trying to prevent people from booking

0:22.7

their dream cruise vacation.

0:24.8

And finally, what does a day without women look like?

0:27.7

Today, Mexico City found out we're here to make your evening smarter.

0:32.4

Let's skim this.

0:39.0

Today's episode is brought to you by Panera's Unlimited Coffee Subscription.

0:43.1

Your cup is always full.

0:48.2

Stock markets aren't open over the weekend.

0:51.0

So if someone wants to buy or sell stocks, they have to wait until 9.30 a.m. on Monday

0:55.8

to get in on the action.

0:57.6

And even ring a bell on Wall Street to kick off the fun.

1:00.6

Or in today's case, the panic.

1:02.6

Three minutes into the session down and down hard, the biggest of a natural fallout is immense.

1:07.8

It's really pretty incredible, John, the selling pressure that we are seeing today.

1:10.8

What a morning.

...

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