Posted on 02/25/2020 6:50:40 PM PST by SeekAndFind
National Economic Council Director Larry Kudlow tried on Tuesday to assuage concerns over the cornavirus and its impact on the U.S. economy.
“We have contained this. I won’t say [it’s] airtight, but it’s pretty close to airtight,” Kudlow told CNBC’s Kelly Evans on “The Exchange.” He added that, while the outbreak is a “human tragedy,” it will likely not be an “economic tragedy.”
“There will be some stumbles. We’re looking at numbers; it’s a little iffy,” Kudlow said. “But at the moment ... there’s no supply disruptions out there yet.”
Kudlow’s comments came as the stock market tanked for a second straight day amid worries that the coronavirus outbreak would lead to a prolonged global economic slowdown.
The Dow Jones Industrial Average was more than 700 points lower Tuesday, down 2.7%. On Monday, the 30-stock average had its worst day in two years, dropping more than 1,000 points.
Investors dumped equities in favor of U.S. Treasurys, which are traditionally seen as a safe haven during volatile stretches for the stock market. The benchmark 10-year Treasury yield dropped to 1.32% to reach an all-time low. The 30-year also traded at a record low. Yields move inversely to prices.
Still, Kudlow said the U.S. is “holding up nicely,” adding, “All I can do is look at the numbers.”
(Excerpt) Read more at cnbc.com ...
LOL!
How’s that market - lol. Maybe some people know what they are talking about - all the others on this thread - the ones - not so much
“How’s that market”
Seems to be starting to price-in the new normal, although not halfway there yet. Tomorrow it will get closer to that halfway mark.
Hey Nelson, WHUT?
Dumbass.
"Stock market looking pretty good to me!" - DJT - 24 February 2020 - Average person here: YIPPEE!!!!! BUY THE DIP!!!!!
ME: WHUT? I'm shorting it.
Tell me where I posted that.
It’s called walking it back.
I’m waiting.......
Just like when we said closing were coming a couple of weeks ago and people said we were crazy - "NEVER in this country" - now - lockdowns will come. If you think states and local governments are just doing this on their own - you don't know how this works and you've never worked at the higher levels. I have - and the pain is just starting. We have a few months of pain yet to go - at least two - but probably three or more.
Now you’re bookmarked
Lack of reading comprehension is one of my major pet peeves.
You must be a millennial.
Should be some bargains on international airfares. I know during SARS airlines were practically giving away tickets.
==
Have you booked yours, yet?
To Italy, by chance? I hear there are some GREAT deals, there. China, too.
:- /
Larry Kudlow says US has contained the Coronavirus and the economy is holding up nicely
3/11/2020, 11:24:25 PM · 120 of 131
NELSON111 to eyedigress >>>I had a huge pile of cash. I put 25% of it into the market today.
LOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That is SOOOOOOO FUNNNNNNNNNNNYYYYYYYYY
You know - because you couldn't recognize what was really happening and all. After all - it was pretty freaking obvious (and yes - I shorted on the 24th and am still short)
Good, don't lie here.
If you need after school help on just who said that, ask somebody who gives a #uck.
Awe - you mad because all your money burning up? Hey - put more money in - you’ll be FINE! ;-)
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