Did the US economy tank today?
It's been a while since I took the time to post, but MY GOSH what a day March 9th has turned out to be!
-Coronavirus is essentially a pandemic- the US doesn't seem to have the ability (or will) to test people and day by day there are more and more people seemingly infected. The entire country of Italy is quarantined and global travel and growth are slowing quickly
-The price of oil TANKED (sure take the pun) by double digits which will dramatically impact economies large and small
-US Treasury yields are at historic lows, by some estimates may even go negative (aka paying to keep your money safe)
-The market collapsed so quickly (in the first 6 minutes of the open) that trading was abruptly halted for 15 minutes to prevent an even steeper decline into bear territory
So we're living in some crazy economic days at the moment.
Not sure what this means at all (maybe a recession, maybe just a super deep v-neck-bend and snap type deal).
I'm super hopeful on the economy, less so on the spread of Coronavirus and unsure where oil prices will land, but 2020 is a busy year and it's only 3 months deep.