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Stocks tumble after double whammy of warnings from Fauci and Fed over pandemic economy

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Central bank officials cited risk of the potential for massive bankruptcies that could create a lasting scar

Stocks tumbled after a U.S. official warned against a premature reopening of the economy amid a dire outlook from Federal Reserve regional chiefs. Treasuries and the dollar climbed.

“You will get business failures on a grand scale and you will be taking risks that you would go into depression” if shutdowns persist, Federal Reserve Bank of St. Louis President James Bullard said in a video speech from that city Tuesday. Minneapolis Fed President Neel Kashkari warned of a “gradual, muted recovery” from the outbreak, while Dallas Fed President Robert Kaplan said the economy will need more fiscal stimulus if the jobless rate continues to rise.

 

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हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें

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Asian stocks follow Wall Street higher on recovery hopesAsian stock markets and U.S. futures rose Monday as investors looked past dismal American jobs and other data toward hopes for a global recovery from the coronavirus pandemic.
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