Markets face more violent swings, as information becomes available on the spread of the coronavirus and how it is hurting the economy.
Markets face more violent swings in the coming week, as investors watch for a rising number of new coronavirus cases and new data that could show how it is slamming the U.S. economy.
A medical personnel member takes samples of person at a "drive-thru" coronavirus testing lab set up at Somerville Hospital in Somerville, Massachusetts on March 18, 2020.Markets face more violent swings in the coming week as investors watch out for a rising number of coronavirus cases and new data that could show how the virus is slamming the U.S. economy.posting a 17.3% decline, its worst week since October 2008.
Claims rose by 33% in the past week to 281,000, an unprecedented jump outside of times of natural disasters like hurricanes. Some strategists say the claims could easily jump to 1 million or more. "I expect that we'll see abnormal volatility in markets until we begin to see that infection curve flatten, or we see some type of health remedy, vaccine or some solution. I don't think we're going to see that in the next few weeks at least," said Arone. As of Friday, there were about 14,200 cases of the virus in the U.S.Leary and others believe there is more room for the Fed to expand its arsenal, and that could include corporate debt purchases.
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