The Limited Times

Now you can see non-English news...

Corona Effect: The Dow Jones's Hardest Week Since 2008 | Israel today

2020-02-29T23:30:15.152Z


economy


Corona also affects the global economy • Last Friday the index recorded a 12% drop - the strongest fall ever • "Ready for any scenario"

  • The Strongest Fall Ever in Dow Jones // Photo Archive: Gettyimages

"I'm not worried about the Corona, and even consider it an investment opportunity." Larry Cadello, President Trump's senior economic adviser headed by the US National Council, said in an interview Tuesday to Fox Business. Last week was the most difficult US stock market since the 2008 economic crisis.

By the end of trading day on Friday, the Dow Jones had dropped 12% - the strongest fall ever. However, this is still a decline in the "correction" range, following the record-breaking sequence of the index - the last of which was February 12. In the meantime, President Trump has also expressed confidence in the American economy's strength against the spread of the virus, strongly rejecting his Democratic opponents' claims of the administration's failure to treat Corona.

"We are taking Corona very seriously. We have taken the most aggressive steps ever taken by the American government to prevent the spread of the virus. We are fully prepared for any scenario," Trump said during a rally with his supporters this weekend.

However, Google announced that the company employee in Zurich was infected with the disease, and is the first of Google employees. The World Health Organization has raised the level of risk warning from the virus to "very high," but Cadello reassures that U.S. risk levels are relatively low, and markets' response to the virus is "satisfactory." 63 cases have been discovered in the United States so far.

Source: israelhayom

All news articles on 2020-02-29

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.