Global stocks plunge after Trump announces coronavirus response package - Business Insider

The drop came after President Donald Trump announced several steps the US will take as it grapples with the coronavirus pandemic.He added that the "prohibitions will not only apply to the tremendous amounts of trade and cargo, but various other things as we get approval. Anything coming from Europe to the United States is what we are discussing," before walking back the comments in a tweet after the speech.

Futures do not correlate directly with trading during regular hours, but the slides came just hours afterinto bear market territory, meaning the index was down 20% from its recent heights. The move ended the longest bull market run in history for the index, which started on March 9, 2009. The S&P 500 and Nasdaq were just short of entering bear markets.

The drop-off came after President Donald Trump announced several steps the US will take to respond to the coronavirus pandemic. Trump said the US will ban all travel from Europe by non-US citizens for thirty days. But the White House and the president himself scrambled to clarify his comments as futures tanked in response to his announcement.

Strong medicine. Tough. What are you implying?

Capitalism fails every time it’s tried.

This guy looks super healthy. Glad GOP put all its chips on him. 😱

Oh well, it will bounce back.

Because there was no response package 🤷🏼‍♂️

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