U.S. stocks plunged in afternoon trade after the Centers for Disease Control warned Americans to prepare for a coronavirus outbreak and investors attempted to assess the impact of the epidemic in China on global trade and travel.
What’s driving the market? Investors fear supply line disruptions may hit technology companies dependent on Chinese and South Korean factories in particular. Apple Inc. AAPL, -2.13% and Facebook Inc. FB, -0.94% have now fallen more than 10% from record highs seen last month. Officials for the Centers for Disease Control and Prevention warned Americans on Tuesday that the outbreak “might be bad,” and that Americans should prepare for the possibility of disruptions.“I think people should be as calm as possible,” said Larry Kudlow, President Donald Trump’s top economic advisor, in a CNBC interview Tuesday, while stressing that, so far, the U.S. has been able to contain the coronavirus. “On the economic side, there is no tragedy in the U.S.,” he said.
With speculation growing over the potential for a Federal Reserve interest rate cut as worries grow over the effects of the viral outbreak, investors will pay close attention to remarks by Fed Vice Chairman Richard Clarida scheduled for 3:15 p.m. Eastern.
Buy buy buy!!!
Has to fill that gap. I expect we go up into the first week of March, from here.
Capt__Eric well, according to obama it's his economy so....this one's on him. i like that we can blame him. ha.
Bottom is still far
Meanwhile, $TDOC is over here like...
Well, this is no fun
Oh boy, the sky is falling...
It will be ok as long as trump wins- apparently
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