Texas Border Business
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President Trump warned Monday that the novel coronavirus outbreak could last until July, August or later and acknowledged that the economy “may be” tumbling into a recession as a result of the massive disruption to Americans’ daily lives.
Stocks suffered one of their worst daily losses on record, with the S&P 500 index plunging 12% and the Dow Jones Industrial Average down 13%, despite the Federal Reserve’s emergency rate cut on Sunday, which dropped the central bank’s key interest rate to essentially zero. The Fed also launched a massive $700 billion quantitative easing program.
Read more: The Fiscal Times
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