March 9, 2020

Markets Are Open . . . Unfortunately

Hmmm.  The S&P 500 plummeted 7 percent in the first few minutes of trading this morning, triggering a circuit breaker that halts trading for 15 minutes. If it goes down 13 percent, trading will halt again. If it goes down 20 percent, trading will be halted for the rest of the day.

Long-term yields continue to plummet:

And oil is continuing to crash too. Welcome to Monday.

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OUR DEADLINE MATH PROBLEM

It’s risky, but also unavoidable: A full one-third of the dollars that we need to pay for the journalism you rely on has to get raised in December. A good December means our newsroom is fully staffed, well-resourced, and on the beat. A bad one portends budget trouble and hard choices.

The December 31 deadline is drawing nearer, and if we’re going to have any chance of making our goal, we need those of you who’ve never pitched in before to join the ranks of MoJo donors.

We simply can’t afford to come up short. There is no cushion in our razor-thin budget—no backup, no alternative sources of revenue to balance our books. Corporations and powerful people with deep pockets will never sustain the fierce journalism we do. That’s why we need you to show up for us right now.

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