How the coronavirus tanked the markets

Federal Reserve Chair Jerome H. Powell told Congress that the Fed was closely monitoring economic risks from the coronavirus but that he felt comfortable holding interest rates steady.

“New Stock Market RECORD. Congratulations, spend your money wisely. KEEP AMERICA GREAT!!!!!”

The next day, global markets rose on encouraging signs that the infection rate of coronavirus might have plateaued in China. At this point, about nine countries outside of China had confirmed cases of the infection, including 13 cases in the United States.

Wall Street closed higher after the Fed minutes came out showing Federal Reserve officials expressing optimism in January about the U.S. economy.

“Highest Stock Market In History, By Far!”

“The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!”

Global markets fell sharply amid fears that the coronavirus was spreading. New reports that Italy and South Korea had more than 200 new cases fueled the sell-off. But White House economic adviser Larry Kudlow was sanguine, recommending investors buy “these dips.”

Mid-morning, Centers for Disease Control and Prevention officials testified at a congressional hearing that Americans should prepare for the “inevitable” spread of the coronavirus.

About two to three hours later, the CDC released a more positive assessment.

President Trump announced that Vice President Pence will lead the administration’s response to the coronavirus. The move came as a person in Northern California tested positive for the virus, the first case in the United States that has no known link to foreign travel or contact with someone known to be infected.

The Dow Jones industrial average plunged amid intensifying fears that the global efforts to contain the coronavirus were failing.

On a volatile day that saw the Dow sink 1,000 points, the sell-off eased after the Federal Reserve took the unusual step of releasing a public statement: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. 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.”

Federal Reserve Chair Jerome H. Powell told Congress that the Fed was closely monitoring economic risks from the coronavirus but that he felt comfortable holding interest rates steady.

The next day, global markets rose on encouraging signs that the infection rate of coronavirus might have plateaued in China. At this point, about nine countries outside of China had confirmed cases of the infection, including 13 cases in the United States.

Wall Street closed higher after the Fed minutes came out showing Federal Reserve officials expressing optimism in January about the U.S. economy.

Global markets fell sharply amid fears that the coronavirus was spreading. New reports that Italy and South Korea had more than 200 new cases fueled the sell-off. But White House economic adviser Larry Kudlow was sanguine, recommending investors buy “these dips.”

Mid-morning, Centers for Disease Control and Prevention officials testified at a congressional hearing that Americans should prepare for the “inevitable” spread of the coronavirus.

About two to three hours later, the CDC released a more positive assessment.

President Trump announced that Vice President Pence will lead the administration’s response to the coronavirus. The move came as a person in Northern California tested positive for the virus, the first case in the United States that has no known link to foreign travel or contact with someone known to be infected.

The Dow Jones industrial average plunged amid intensifying fears that the global efforts to contain the coronavirus were failing.

On a volatile day that saw the Dow sink 1,000 points, the sell-off eased after the Federal Reserve took the unusual step of releasing a public statement: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. 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.”

FEB. 11 and 12

Federal Reserve Chair Jerome H. Powell told Congress that the Fed was closely monitoring economic risks from the coronavirus but that he felt comfortable holding interest rates steady. The next day, global markets rose on encouraging signs that the infection rate of coronavirus might have plateaued in China. At this point, about nine countries outside of China had confirmed cases of the infection, including 13 cases in the United States.

FEB. 19

Wall Street closed higher after the Fed minutes came out showing Federal Reserve officials expressing optimism in January about the U.S. economy.

FEB. 24

Global markets fell sharply amid fears that the coronavirus was spreading. New reports that Italy and South Korea had more than 200 new cases fueled the sell-off. But White House economic adviser Larry Kudlow was sanguine, recommending investors buy “these dips.”

FEB. 25

Mid-morning, Centers for Disease Control and Prevention officials testified at a congressional hearing that Americans should prepare for the “inevitable” spread of the coronavirus.

“It’s not a question of if this will happen, but when this will happen, and how many people in this country will have severe illnesses,” CDC official Nancy Messonnier said.

About two to three hours later, the CDC released a more positive assessment. “We believe the immediate risk here in the United States remains low,” said Anne Schuchat, the CDC’s principal deputy director.

Democratic presidential candidates pummeled the response during a debate in South Carolina.

FEB. 26

President Trump announced that Vice President Pence will lead the administration’s response to the coronavirus. The move came as a person in Northern California tested positive for the virus, the first case in the United States that has no known link to foreign travel or contact with someone known to be infected.

FEB. 27

The Dow Jones industrial average plunged amid intensifying fears that the global efforts to contain the coronavirus were failing.

FEB. 28

On a volatile day that saw the Dow sink 1,000 points, the sell-off eased after the Federal Reserve took the unusual step of releasing a public statement: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. 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.”

FEB. 11 and 12

Federal Reserve Chair Jerome H. Powell told Congress that the Fed was closely monitoring economic risks from the coronavirus but that he felt comfortable holding interest rates steady. The next day, global markets rose on encouraging signs that the infection rate of coronavirus might have plateaued in China. At this point, about nine countries outside of China had confirmed cases of the infection, including 13 cases in the United States.

FEB. 19

Wall Street closed higher after the Fed minutes came out showing Federal Reserve officials expressing optimism in January about the U.S. economy.

FEB. 24

Global markets fell sharply amid fears that the coronavirus was spreading. New reports that Italy and South Korea had more than 200 new cases fueled the sell-off. But White House economic adviser Larry Kudlow was sanguine, recommending investors buy “these dips.”

FEB. 25

Mid-morning, Centers for Disease Control and Prevention officials testified at a congressional hearing that Americans should prepare for the “inevitable” spread of the coronavirus.

“It’s not a question of if this will happen, but when this will happen, and how many people in this country will have severe illnesses,” CDC official Nancy Messonnier said.

About two to three hours later, the CDC released a more positive assessment. “We believe the immediate risk here in the United States remains low,” said Anne Schuchat, the CDC’s principal deputy director.

Democratic presidential candidates pummeled the response during a debate in South Carolina.

FEB. 26

President Trump announced that Vice President Pence will lead the administration’s response to the coronavirus. The move came as a person in Northern California tested positive for the virus, the first case in the United States that has no known link to foreign travel or contact with someone known to be infected.

FEB. 27

The Dow Jones industrial average plunged amid intensifying fears that the global efforts to contain the coronavirus were failing.

FEB. 28

On a volatile day that saw the Dow sink 1,000 points, the sell-off eased after the Federal Reserve took the unusual step of releasing a public statement: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. 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.”

FEB. 11 and 12

Federal Reserve Chair Jerome H. Powell told Congress that the Fed was closely monitoring economic risks from the coronavirus but that he felt comfortable holding interest rates steady. The next day, global markets rose on encouraging signs that the infection rate of coronavirus might have plateaued in China. At this point, about nine countries outside of China had confirmed cases of the infection, including 13 cases in the United States.

FEB. 19

Wall Street closed higher after the Fed minutes came out showing Federal Reserve officials expressing optimism in January about the U.S. economy.

FEB. 24

Global markets fell sharply amid fears that the coronavirus was spreading. New reports that Italy and South Korea had more than 200 new cases fueled the sell-off. But White House economic adviser Larry Kudlow was sanguine, recommending investors buy “these dips.”

FEB. 25

Mid-morning, Centers for Disease Control and Prevention officials testified at a congressional hearing that Americans should prepare for the “inevitable” spread of the coronavirus.

“It’s not a question of if this will happen, but when this will happen, and how many people in this country will have severe illnesses,” CDC official Nancy Messonnier said.

About two to three hours later, the CDC released a more positive assessment. “We believe the immediate risk here in the United States remains low,” said Anne Schuchat, the CDC’s principal deputy director.

Democratic presidential candidates pummeled the response during a debate in South Carolina.

FEB. 26

President Trump announced that Vice President Pence will lead the administration’s response to the coronavirus. The move came as a person in Northern California tested positive for the virus, the first case in the United States that has no known link to foreign travel or contact with someone known to be infected.

FEB. 27

The Dow Jones industrial average plunged amid intensifying fears that the global efforts to contain the coronavirus were failing.

FEB. 28

On a volatile day that saw the Dow sink 1,000 points, the sell-off eased after the Federal Reserve took the unusual step of releasing a public statement: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. 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.”