Goldman Sachs warns the coronavirus outbreak could easily trigger a U.S. recession.
A sickened stock market could become even more feeble thanks to the coronavirus, strategists at Goldman Sachs warn.
Kostin is holding out hope the U.S. averts a recession, however. In a baseline scenario, Kostin thinks S&P earnings will be flat in 2020 and the index will rally 15% or so to 3,400.This weekend, Italy quarantined some 16 million people — a quarter of its population — in a bid to stave off a broader spreading of the coronavirus. As of March 8, there were 446 confirmed cases of the coronavirus in the U.S. including the first cases in Washington, D.C.
‘Impact on global economy’Meanwhile, the stock market continues to be highly sensitive to coronavirus headlines and trade with a downward bias. Gorilla Trades notes short interest on the NYSE continued to climb last week, despite the Federal Reserve’s emergency 50 basis point rate cut.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Seattle-area nursing home unable to test 65 workers with COVID-19 symptomsThe Seattle-area nursing home at the epicenter of the U.S. coronavirus outbreak ...
Read more »
Why the Financial Markets Are Melting Into GooWe knew the coronavirus was coming for the economy, but a dispute between Saudi Arabia and Russia just sped up the trouble.
Read more »
We Are Watching the Probable Demise of Trump’s Reelection in Real TimePresident Trump may have finally made his unfitness for office so blatant that even his own supporters will notice. jonathanchait writes
Read more »
Melania Trump Issues a Rare Statement to Her Critics About the White House Tennis Court ControversyMelania Trump responds to criticism over the White House's tennis court construction:
Read more »
Cruz to remain in Texas after brief interaction at CPAC with person who tested positiveSen. Cruz will remain home in Texas this week 'out of an abundance of caution' after being informed he had brief conversation and handshake 10 days ago at CPAC with a person who has tested positive for COVID-19.
Read more »
Indian Wells tennis tournament canceledNEW: BNP Paribas Open tennis tournament in California says the tournament 'will not take place at this time' due to coronavirus concerns.
Read more »