In his address, Trump announced travel from much of Europe will be suspended for 30 days as part of the government’s response to the coronavirus outbreak.
These moves were not enough for investors, however, who were looking for a more robust fiscal response to curb potentially slower economic growth.after a Utah Jazz player tested positive for coronavirus.demise of the Dow’s record-setting bull market
run that began in March 2009. The blue-chip index tumbled 1,464.94 points, or 5.9 percent, to close at 23,553.22. The 30-stock average closed in a bear market, putting to end an expansion that started in 2009 amid the financial crisis. “The crux of the angst investors are feeling as the coronavirus spreads surrounds what might happen to consumer spending,” wrote Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
“Consumers sitting at home and not out spending money because they fear catching the coronavirus is the ultimate negative outcome,” he added. “It has been the U.S. consumer who has been driving the recovery bus during this long expansion.”
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