Posts Tagged ‘stock market drop’

Trump Coronavirus Response: Tax Cuts

March 2, 2020

Trump Coronavirus Response: Tax Cuts

President Donald Trump has been laser-focused on the deadly Coronavirus epidemic, especially one frightening symptom, the biggest stock market dive since the 2008 financial crisis. This is big trouble for Mr. Trump, who has been taking credit for rising stock prices for the past three years. After putting public health expert Mike Pence in charge of the nation’s Coronavirus response, Mr. Trump prescribed his no-fail remedy for Wall Street’s ills: tax cuts. They’ll even pay for themselves! Too bad they won’t treat disease or pay for America’s health care.

More:

“Trump officials discuss tax cuts, other emergency measures in hopes of tackling coronavirus fallout,” Jeff Stein and Ashley Parker,” Washington Post

“Coronavirus Shows the Problem With Trump’s Stock Market Boasting,” Neil Irwin, New York Times

“The coronavirus gores Trump’s bull market,” Robert J. Samuelson, Washington Post

“Trump tries to shift blame as virus outbreak rattles markets,” Jonathan Lemire and Josh Boak, Associated Press

“Only Doctors Can Save the Markets From the Coronavirus,” Binyamin Appelbaum, New York Times

Update:

“Dow plunges despite Fed’s emergency rate cut to stem coronavirus panic,” Rachel Siegel and Thomas Heath, Washington Post

Related:

“Stock markets are headed for a 40 percent plunge, says economist who predicted financial crisis,” Summer Meza, The Week

“Global stock markets have lost $6 trillion in value in six days,” Maggie Fitzgerald, CNBC

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Market Correction

August 22, 2015

Market Correction

On Friday Wall Street deflated with a mighty belch, as the Dow dropped over 500 points, the worst one-day loss since 2008. Overall there’s been a 10 percent drop from the May 19 peak, so it’s officially a “Market Correction.

Why? Some blame it on the fears about the instability of China’s economy, others on the EU and Greece, or the Fed, or the low price of oil and other commodities, or the Zodiac.

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