Friday, March 13, 2020

Dow pops 1,985 points as Trump's national emergency enlists Google, Walmart in coronavirus fight

I think this presentation did a great deal to calm the markets.
Fox News reports U.S. equity markets soared in the final hour of trading as President Trump declared a national emergency over the coronavirus and enlisted the nation's biggest companies in the fight.

The Dow Jones Industrial Average surged by over 1,985 points or 9.3 percent. The S&P 500 and Nasdaq Composite also rallied over 9 percent.

The major averages rebounded from a Thursday selloff that was their steepest since the Black Monday crash of 1987. All three lost at least 9.5 percent amid an avalanche of cancelations and postponement of large social gatherings and sporting events aimed at slowing the spread of the new coronavirus.

More here

1 comment:

  1. As of today my 401k has lost 23% of the value it was last year this time and 33% of it's value 3 months ago. My plans to retire in 2 years has become a 5 to 8 year plan now.

    I have been screwed by the media and the democratic hatred of the success of Trump's presidency.