An urgent call reached Ronald O’Hanley, State Street Corp.’s chief executive, as he sat in his office in downtown Boston. It was 8 a.m. on Monday, March 16.
A senior deputy told him corporate treasurers and pension managers, panicked by the growing economic damage from the Covid-19 pandemic, were pulling billions of dollars from certain money-market funds. This was forcing the funds to try to sell some of the bonds they held.
BROUGHT ON BY MEDIA AND A GOVERNMENT LAB RAT!
TrumpDepression
This is the dumbest article.
It was coming covid or no covid. stop the lies
'To the brink' HAHA no. It brought our economy over the bring and will continue ravaging us for decades to come.
92k dead, 14% unemployed, who cares about the stock market when it's status clearly does not reflect the reality most Americans face
To bad! Push the Button!
It wasn't the virus that caused this. Who are you kidding?
2008: We need $800B or the world is going to end 2020: We’re going to print $7T or the world is going to end 🤔
Whatever.
Top confirmed. Back to 2440 now.
Gone all the greezy days... Lehmann is nothing in front of this....
We were quite fortunate. But this is a 12 round fight. Maybe we’re 5 or 6 rounds in, but the opponent still has a punch. Long way to go.
Scary indeed. 😱
Walter Estrada just said he has been deleting phone numbers from my contacts!!
controlled right? Mind you financial markets acts as one regardless territories . ripple effect
Can someone explain what happens when the financial system goes over the edge.
Lots of whistling in the dark.
I'm curious, what do experts anticipate will happen to financial markets in 2nd/3rd etc. waves?
Excessive demand for tissue helped save it.
Coronavirus didn’t bring our economy to this point, an inept and corrupt administration did. If Trump had kept the safeguards in place we could’ve caught this much earlier and affectively. Thanks Trump!
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On that day, the Dow plunged nearly 13%, the second-biggest one-day fall ever. Investors struggled to unload even safe bonds. Companies and government officials were losing access to the lending markets on which they rely to make payroll and build schools.
The post pandemic era will be worse then 1929...
people in world should confront with the problem,not only the president but also the citizens. the warm heart is far more better than the cold and grim number. stop complaining about the petty things,everything will be ok and pay more attention on the family.
People believe the false sense of security so well. That this is the result. God is he who keeps you free.
Stop the dramaticsim. Nothing happened. We are back at the highs because the richest man in the world is an American. Powell will always protect us. USA USA USA NASDAQ NASDAQ NASDAQ
It's always nearly or closed. Won't happen. The FED prints, if necessary, paper with a value of $.1000.000 of higher.
Have we learned anything from 2008/2009 debacle?
We coming for quds 🇮🇷🇰🇼