Other than ford and maybe a few hotels, no real big names in those downgrades. Downgrading churchhill downs isnt exactly earth shattering. That said, there will be more substantial downgrades.
Indeed, the name of the game is to shake out. It was reported that 9/10 retail accounts have done nothing through this drawdown. So, here is my prediction using @dozu888 analysis: * Big companies will start putting out shit earnings * Analysts will downgrade to "market perform" * Market will tank, 5/10 retail accounts will capitulate * Big companies will restart buybacks * New ATH This has been the game for more than a century now. There is no reason to stop this.
Companies that accept government bailout money may be forbidden from buybacks. I have enough confidence in American business that they will find a workaround.