Black Monday: The 2020 Stock Market Crash
March 11, 2020
Covid-19. Panic. People sprinting to the nearest store to get six-packs of toilet paper and four bottles of hand sanitizer. The worldwide panic that this will become a pandemic, much like that of the Spanish Influenza and the Black Plague. Plummeting oil prices in Saudi Arabia. All of these factors have contributed to the stock market’s recent crash, dubbed ‘Black Monday’ as worldwide stocks plummeted on March 9, 2020.
With China’s trades being halted, businesses haven’t been getting the products they need to continue business at the current price level, which sent the prices for even toilet paper soaring to an all-time high of 35 dollars on Amazon for a 6 pack of the product. So how bad will this get? When looking at similar data from prior market crashes that mirror ours today, it is predicted that the market might be able to make a recovery within a few months. But, it may not be able to recover within this time period if the widespread panic about the Wuhan-Coronavirus is still sweeping the world. Supply and demand have been heavily affected throughout these first few months of 2020 by this virus, and with that, the media is predicting that more dominoes will fall from it throughout the year.