The Virus Becomes the Focus
Submitted by Little & Associates Wealth Management on March 2nd, 2020The Week on Wall Street
Stocks fell sharply last week as Wall Street considered how the coronavirus outbreak might influence global business activity and household spending.
The selloff became a correction for the U.S. markets. The S&P 500 retreated 11.49%; the Dow Jones Industrial Average, 12.36%; the Nasdaq Composite, 10.54%. The MSCI EAFE, tracking developed stock markets outside North America, had fallen 6.75% week-over-week by Friday's closing bell.
On Friday afternoon, Federal Reserve Chair Jerome Powell stated that central bank officials were willing to "use our tools and act as appropriate to support the economy."[1][2][3]
