The coronavirus health pandemic has become a full-fledged financial pandemic. Already, tens of thousands of workers are being laid off, especially in the airline, hotel and hospitality sectors.
The situation became acute when thousands of laid off workers crashed unemployment websites in several states.
Economists believe that virus-related ...Read more
The Fed made a rare, but not unprecedented, intra-meeting rate cut of half a percentage point on March 3. In a unanimous decision, officials said that despite an economy that remains strong, "the coronavirus poses evolving risks to economic activity."
Fed Chairman Jerome Powell acknowledged that the action would not shield the economy from the ...Read more
The end of February saw the worst week for stocks since the heart of the financial crisis. Just six days after the S&P 500 index reached a new all-time high on Feb. 19, it fell by more than 10%, its fastest correction ever, mostly due to the uncertainty arising from the spread of coronavirus.
Given the speed and depth of the sell-off, you are ...Read more