NEW YORK (AP) — Pandemonium has just broken out on the floor of the New York Stock Exchange as many big name investors have made clear their sentiments surrounding the unrest in Chicago. As soon as the chants broke out, many investors ripped off their traditional suit wear for a t-shirt of a grayed-out American flag, with one stripe colored blue to signify support for the police.
The clear watershed moment in this event was when SoftKey and Learning Company magnate Kevin O’Leary jumped onto the bell podium and started leading the chant, pumping his fist and attempting to coalesce the room’s feelings into a unified tour de force.
These events are likely inspired by the much-discussed political events in Chicago, which have turned from peaceful protest to violent demonstration, with the entire nation following suit: at first Atlanta, then seemingly in a matter of moments Washington D.C. was on fire:
The nation's capital is legitimately on fire in every direction. This is unreal. pic.twitter.com/hXNJ0LticL
— Samantha-Jo Roth (@SamanthaJoRoth) June 1, 2020
These protests come in response to the death of George Floyd, an unarmed black man who was killed in police custody. His death, captured on video, was largely due to suffocation as one of the arresting police officers, Derek Chauvin, placed his knee on Floyd’s neck for upwards of nine minutes. Chauvin, who has had several complaints filed against him in the past, has been detained and is awaiting trial.
One of the key reactions to these protests has been the large-scale pushback by many to say that the violence surrounding these protests are counter intuitive to what the cause has worked so hard to advocate. It allows those who hold racist preconceptions of African Americans and other minority groups to confirm their biases and tune out the argument that Black Lives Matter is attempting to make.
These riots have led to the destruction of many places of financial transaction, especially many small businesses located in Minneapolis, the epicenter of these protests. Seeing as Target ($TGT) displayed absolutely abhorrent security of a disabled old lady with a knife, I would strongly caution buying into the stock at this time, but now is not the time for personal opining and self-indulgence.