Fear of Biden lockdown sends stock markets into nosedive

Got your life savings tied up in the stock market? Were you, like the US economy, doing just fine until the Co-virus hit? And now you're thinking you should have bought gold while you had the chance? Is that your problem, Bunky? 

Well, you're not alone. Global stocks tumbled today as coronavirus infections rose in Europe and North America, exacerbating fears of strict lockdowns that would damage already fragile economic recoveries. The CBOE Volatility Index , known as Wall Street's "fear gauge", surged to its highest level in nearly two months. Oil prices tumbled about 5%. 

Here's the bad news as I write, just coming up to high noon Eastern Time. The Dow is down nearly 850 points (over 3%). The TSX (Toronto Stock Exchange) is down almost 350 points (over 2%), and Nasdaq also down nearly 350 points (over 3%). 

Everyone's afraid of a wide-ranging enforced lockdown, it seems. Rightly so. A major lockdown, coming just as things were starting to open up again, will kill businesses, small (your local diner) and big (think airlines). 

Who's promising such draconian measures, if elected? Old Joe Biden, that's who. Who says we don't need to do that? Still-President Trump, that's who! If you've got money in the market, govern yourself (read: vote!) accordingly!

Further reading/viewing: "The American Nightmare: Go Trump or go lockdown!", WWW 16/10/20.