Can Telemedicine Be A Market Savior On Rising Corona Scare?
Zacks Investment Research | Mar 04, 2020 08:01PM ET
Consequent to last week’s massive sell-off on the coronavirus fear, the Dow tanked nearly 1,100 points, NasDaq 799 points and the S&P 500 Index 344 points. Investors have addressed it as one of the worst weeks for global investment markets since the 2008 financial crisis.
This week kick-started with the market painting a bright picture — thanks to the upbeat market sentiment on news of the G7 (Group of Seven) emergency plans for a collective effort to control the damages associated with the coronavirus outbreak. However, the euphoria seems to be short lived, as following the Mar 3 meeting of the G7 finance ministers and central bank governors, the major indices are once again shredding off points.
It is evident that the epidemic has sent jitters across share markets, as the Fed made an emergency rate cut and the World Bank declared $12 billion of immediate support to all COVID-19-affected countries. Also, at the G7 meeting, several other coordinated policy actions flowed in. Therefore, such a scenario is compelling investors to critically link the latest rate cut as a clear indicator of another economic recession impending in a decade.
In this regard, we note that the Organisation for Economic Cooperation and Development (OECD) has already Original post
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