As perverse as it may seem, markets can indeed rise amid a sobering week for the nation.
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The first week of November will be presented by the letter “V”… V is for VOTE, VIRUS and VOLATILITY, the themes that will dominate financial markets in the days, and potentially weeks, ahead.
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“How can the stock market go up, while the economy is still struggling to recover amid the pandemic?” The answer is that the stock market is not the economy and vice versa.
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It’s official: the coronavirus health pandemic has become a financial pandemic. Already, tens of thousands of workers are being laid off, especially in the airline, hotel and hospitality sectors.
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The Federal Reserve announced emergency actions to guard against the coming economic impact of Coronavirus.
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The Fed made a rare, but not unprecedented intra-meeting rate cut of 0.50 percent (to a range of 1 - 1.25 percent) on March 3. In a unanimous decision, officials said despite an economy that remains strong “the coronavirus poses evolving risks to economic activity.”
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