Dow suffers another massive sell-off – Bill Ackman, Jim Cramer and others weigh in (via TradingNation)
closed down more than 1,300 points lower for the day, putting total monthly losses at more than 5,000 points," said any rebound needs to happen across the board or in more constructive corners of the market:
"The market is trying to figure out how to deal with these uncertain times when you've got both financial health on the line and, of course, what we were just talking about with separation -- actual health -- and I think it's not processing it very well, in part because the liquidity is not there but also because we're in a highly emotional moment. I mean [Tuesday], it looked like the market was up but the indices lie and what was really up were things like Hormel.
Bill Ackman, founder and CEO of Pershing Square Capital, called for an immediate shutdown to limit how long the crisis impacts businesses: "I'm a major shareholder but what I'm saying is if we allow this to continue the way we allow it to continue, every hotel company in the world is done because no business can survive a period of 18 months without revenue. And that's what happens if you operate the way we're operating now. So that's a very, very bearish thought, OK, and I've been super bearish. But I got bullish.
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