"The decision to put Mr. Pence in charge was made on Wednesday after the president told some people that the vice president didn’t 'have anything else to do,' according to people familiar with the president’s comments." https://t.co/CXegTZK5Mm
— Aaron Rupar (@atrupar) February 27, 2020
So, what did investors think about President Trump's new task force to take on coronavirus, now that it's headed up by a guy who once claimed that "smoking doesn't kill", and thinks a person can pray away the fact that they are gay?
The Dow closed down 1,191 points, or 4.4% – the worst one-day point drop in history. The index has lost 3,226 points this week.
— Jim Sciutto (@jimsciutto) February 27, 2020
The S&P 500 finished down 4.4% - the worst one-day percentage drop since August 2011.
It was the sixth straight day of losses for the Dow & S&P
You wanna know what the Wall Street crowd thinks about the prospects of the US economy due to the mess that Drumpf and the rest of this Wrecking Crew is leaving for us for the coming years?
The 2-year note rate, which tracks expectations for monetary policy, slipped 4.6 basis points to 1.099%, its lowest close since Nov. 2016.So Wall Streeters think that getting 1.1% for the next 2 years is a worthwhile investment. 1.1% BEFORE INFLATION. And the 5-year note was even lower, at 1.08%.
Bad things, man. Bad things.
PS- It doesnt seem to be letting up. The 10-year note isn't much higher.
So 1.25 on the 10-year. Yeah, this is a vote of confidence in the leadership. pic.twitter.com/8qhGZyOkFl
— Joseph Brusuelas (@joebrusuelas) February 28, 2020
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