Sell signal: Trump’s shallow virus plan blows floor out of markets
by Anshuman Daga, Tom Westbrook – Reuters – Mar 12, 20202
SINGAPORE (Reuters) – All global investors got from U.S. President Donald Trump’s coronavirus package were a shock travel ban on Europe and a flashing signal to sell, and none of the large-scale tax breaks or medical tests for Americans they’d been expecting.
Importantly, everything Trump said on Wednesday fell short of what markets expected from an economic superpower coming late to the virus battle.
“The U.S. is playing catch-up as fast as it can and that’s where we are. The president destroyed trust and the world doesn’t believe him,” said David Kotok, chairman and chief investment officer at Cumberland Advisors in Sarasota Florida.
Read the full article at Reuters: https://www.reuters.com/article/us-health-coronavirus-markets-trump-idUSKBN20Z126
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