Corona was what broke the camel's back, the stock already was struggling before.

It’s a 1000kg weight that broke camels back

a straw would have broken the financial system camels back unfortunately it just got hit in the head by a corona brick

SP500 rose over 10% in the 6 months preceding the corona outbreak - how is that struggling?

It was struggling in late 2018 (after the sugar rush of tax cut ended) and 2019. FED was lowering interest rates to make it look better even though other indicators were looking bad.

Coronavirus was the pin that popped the bubble.

But the pin could have been some other event, at some other time. All crashes have catalysts, but the specific catalyst is usually irrelevant, in hindsight.

Yeah I'm not sure if OP knows what he's talking about. None of those other things are correcting... ONLY the asset market.

Wait until there are mass defaults because of the loss of income.

It's going to be the financial crisis all over again.

Ppl default on loans because they lack cash flow

banks didn't account for this with lax lending standards

banks go bankrupt but TARP style program bails out banks

hopefully people stay in their homes ...somehow. (some kind of mortgage payment moratorium?)

>banks didn't account for this with lax lending standards

Pretty sure the ratings fraud got fixed. Also pretty sure they didn't just go back to handing loans out to anyone with a pulse. I'm sure there's some crazy intricate financial instruments made up of dogshit still around, but it's probably going to be a smaller percentage of the bank's balance sheet.

We need a mortgage and rent payment moratorium nationwide if the majority of the country is expected to just stop working.

Banks are fine now dude, it's nothing like 08.

Just wait.

Canadian banks have been hit hard due to falling oil prices and expected resultant bankruptcies.

American banks will get hit by rising unemployment.

Companies and banks are healthier and more asset rich than they have been for decades.

Some companies are, some are not. Many have been juicing their stock price with stock buybacks at the expense of cash reserves (see Boeing).

Boeing has nothing to do with the current situation and it's not really under any more pressure presently even if there is a temporary downturn.

That’s an odd assertion considering how much the airline industry is going to hurt for the next 6+ months. I’m sure both Boeing and Airbus will see a drop in orders as their customers teeter on the edge of bankruptcy.

Could be wrong, but my understanding is that the aircraft industry is supply not demand constrained.