Switzer on Saturday

Stocks and the world economy were ‘Coronavirussed’

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
19,173.98
-913.21
-4.55%
-17.30%
S&P 500
2,304.92
-104.47
-4.34%
-14.98%
NASDAQ
6,879.52
-271.06
-3.79%
-12.64%
ASX 200
4,816.60
33.70
0.71%
-13.05%
Data for week commencing 16 March 2020

European stock markets reacted positively to the combined firepower of monetary and fiscal policies as they lined up to offset the negative economic implications of the Coronavirus containment policies. The world economy is right in the middle of a huge fight to beat the virus and to offset the economic dislocation that comes with social distancing, social isolation and business shutdowns.

Not helping is the procrastination of US lawmakers to get a plan passed and into operation, which seems crazy, with the LA Times saying 18% of workers surveyed have lost their jobs or lost hours.