NEW: Pres. Trump on the Dow suffering its worst week since the financial crash of 2008 amid fears over impact of novel coronavirus: 'I think it's just people don't know—it's the unknown.'
Traders work at the New York Stock Exchange on Feb. 28, 2020, at Wall Street in New York.Johannes Eisele/AFP via Getty Images
"The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity," Powell said."The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy."
"Ultimately, it is the uncertainty that is most difficult to price in, so people are selling in the advance of concrete information," Chris Zaccarelli, the chief investment officer for Independent Advisor Alliance said Friday. Trader Fred DeMarco works on the floor of the New York Stock Exchange, Friday, Feb. 28, 2020. Global stock markets are falling further on spreading virus fears.
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