By Chris Bailey | Thursday 12 March 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
You will have your own thoughts about President Trump's decision to ban European Union citizens from entering the United States, but it is clearly another impediment to global supply chains and that is not good. Global financial markets are therefore grisly and it is a natural instinct not to want to look at your portfolio – even if you had a bunch of cash and gold stocks a-plenty. But onto corporate earnings. There was a huge bunch of them today, including three old 'pals' that continue to be dogs that woof. The first two simply have too much debt which - despite ever lower global interest rates - is not a good look when earnings/cash flows are under pressure…