Who said shut down the stock market?
I said you don't understand the market if you think this drop is a panic move. Just as your fearless leader thought the Fed cut that he praised was going to help the market. The rate cut was a panic move and now they have nothing left.
It is not a panic move, but there is definitely panic involved. How many of the sellers are sitting on 1000 rolls of toilet paper? If they are panicking for other things they are panicking regarding stocks too. Does that mean it will go back to previous highs overnight? Of course not. There are definitely fundamental issues that were instigated by the virus. That does not mean that every point the market drops is from cold calculations. The biggest opportunities have historically come from markets going too far over real concerns.
The Fed cut was definitely a panic move and was viewed by the markets as such. That is part of why the markets shot down from it. Does that mean it wasn't panic or does that mean that the Fed panicking caused everyone else to panic as well? It is too early to tell.