WASHINGTON DC — COVID 19, or the new coronavirus continues to cause serious outbreaks in the U.S. and around the world, with more than 114,000 confirmed positive cases in more than 100 countries.
Financial experts said the medically contagious virus has also become economically devastating.
Wall Street has yet to fully recover from Monday’s nosedive of 2013 points, after oil prices also took a 20% slump, and the rapid spread of the coronavirus continues to trigger fears of a global recession.
With the U.S. presidential elections just 8 months away, a looming economic downturn is not what President Donald Trump needs – especially in his re-election bid.
But in a coronavirus taskforce briefing on Monday — the president’s promised “major” steps to cushion the economic impact of the COVID 19 outbreak are giving investors in Wall Street hope.