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The coronavirus scare despatched the broader market right into a tailspin, withthe S&P 500 shedding 18.4% previously month (as of Mar 11, 2020), the Dow Jones shedding 19.5% and the Nasdaq Composite retreating 18.4%.
The disaster aggravated on Mar 11 after WHO declared the coronavirus outbreak a worldwide pandemic. So as to add to the woes, President Trump enacted a month-long journey ban from Europe (besides the United Kingdom) to include the unfold of the virus, dealing a blow to world commerce. Additionally, there was no point out of payroll tax cuts that markets had been hoping for.
Many market watchers signaled an upcoming recession. Some discovered similarities between the newest market fallout and the 2008 disaster. However is it true? In all probability not. In 2008, the disaster was demand shock-driven and core weak spot within the financial system. This time, the issue is centered on provide chain and financial image was nearly regular simply earlier than the virus attacked.
Will Markets Hold Skidding?
JPMorgan Chase…