News and Trends

Fed makes strongest bid yet to protect firms and governments- AP--3.23.20
The Fed is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus. The Fed committed to buying as much government-backed debt as it deemed necessary.

Dow sheds another 3% after coronavirus stimulus bill fails in Senate for a second time- CNBC--3.23.20
Stocks fell sharply on Monday as U.S. lawmakers failed to push through a massive fiscal stimulus bill for the second time in less than 24 hours. Wall Street has been looking for fiscal economic relief as the number of coronavirus cases keeps surging.

Mnuchin warns virus could yield 20% jobless rate without action - MSN--3.18.20
Treasury Secretary Steven Mnuchin believes there is a possibility that U.S. unemployment could rise to 20% without government intervention due to the impact of the coronavirus. Mnuchin believes the economic fallout from the coronavirus is potentially worse than the 2008 financial crisis.

Dow drops 1,300 points, S&P 500 loses 5% as coronavirus market sell-off reaches new low- CNBC--3.18.20
Stocks tumbles on Wednesday, reaching a new coronavirus crisis low as investors continue to worry about the economic damage from the pandemic. The Dow marked its first close below 20,000 since February 2017.

Dow ends nearly 3,000 lower as investors await U.S. government response after Fed’s historic action fails to bring calm - Market Watch--3.16.20
The Dow ended nearly 3,000 points lower on Monday amid rising fears that fresh Fed stimulus won't be enough to combat the threat of the coronavirus outbreak.

Fed takes emergency steps to slash rates and ease bank rules- AP--3.15.20
The Federal Reserve took massive emergency action on Sunday to try and help the U.S. economy against the coronavirus by slashing its benchmark interest rate to near zero. The Fed also said it would buy $700 billion in Treasury and mortgage bonds.

New York Federal Reserve injects $1.5 trillion into markets amid coronavirus chaos for stocks- USA Today--3.12.20
The NY Fed on Thursday took steps to inject more than $1.5 trillion into the markets in a bid to calm investors. Stocks briefly paused their decline after the news, but the extremely volatile market activity continued.

Dow plunges 10% amid coronavirus fears for its worst day since the 1987 market crash- CNBC--3.12.20
Stocks plummeted once again on Thursday as concerns grow over the economic slowdown stemming from the coronavirus, leading to a historic drop for U.S. markets. The Dow ended up closing 2,352 points lower, its worst drop since 1987.

WHO declares coronavirus global 'pandemic'- Fox News--3.11.20
The World Heath Organization has declared the coronavirus outbreak a global "pandemic." Currently, there are more than 118,000 cases in 114 countries, with 4,291 deaths.

Dow enters bear territory, plunging by more than 1,400 points- NBC News--3.11.20
The Dow closed more than 1,400 points on Wednesday, crossing firmly into bear market territory, or a 20 percent decline from a 52-week high. The losses came as the WHO labeled the coronavirus outbreak a pandemic.

El-Erian: Stock market bottom is not in yet, despite the bounce after Monday’s historic decline- CNBC--3.10.20
According to one economist, the stock market has not reached its bottom yet, even after reaching historic declines on Monday. Investors should take caution when buying market dips this time around as many have been conditioned to do in recent years.

Trump pitched 0% payroll tax rate for the rest of the year, White House official says- CNBC--3.10.20
President Donald Trump pitched a 0% payroll tax rate that would last through the year in a meeting with Republican lawmakers on Tuesday. The idea came as President Trump and the White House try to put together an economic stimulus plan to counteract the impact from the coronavirus outbreak.

Dow sinks 2,000 points in worst day since 2008, S&P 500 drops more than 7%- CNBC--3.9.20
The Dow sank more than 2,000 points on Monday, suffering its worst day since 2008, as fears about the spread of coronavirus and an oil price war sent investors scrambling out of stocks.

Italy quarantines north in drastic bid to slow virus spread- AP--3.8.20
Italy is taking steps to lock down 16 million people for nearly a month to halt the spread of coronavirus across Europe. While the quarantine is focused in northern Italy, it still disrupts the daily life around the country.

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