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Recap March 22: Coronavirus Worldwide Depression? – Worst Stock Crash in History (Recap Ep063)

This week we experienced the worst stock crash in history, U.S. stock index futures plunged lower early Monday morning, in the face of the rapidly spreading corona-virus & the Federal Reserve Bank announcement of an interest rate cut down to “0”, both events panicking some investors. Dow plunged over 1,000 points.

Bitcoin was at $5,868.00 last Friday evening, then moves lower again early Monday morning to 4,894.97, on 03/16/2020, for a weekend market loss of -19.87%. The gains for the year are gone, as investors now ponder the future value of the entire sector of crypto-currency assets.

As the number of coronavirus cases & deaths in Europe supposedly surpassing China on Wednesday, the European Central Bank (ECB) launched a €750B bond-buying program to stop a pandemic-induced financial rout, bringing ruin on the Eurozone’s economy. The new policy brings this year’s planned purchases to €1.1T ($1.19B), with the new round alone, worth 6% of the bloc’s GDP.

Japanese automakers Toyota, Honda & Nissan have all announced that their factories in the U.S. will halt production in a bid to help stop the spread of coronavirus. Toyota is halting all shifts at North American plants from 03/23 until 04/03. Nissan is suspending manufacturing at its U.S. facilities from Friday until 04/6. Honda is suspending production for 6 days beginning 03/23.

First statewide ordered lockdown in America; Argentina is now under lockdown by presidential order; Oil fell to its lowest level in 18 years on Wednesday; Gold extended losses after its worst week in near 4 decades; Coronavirus worsens Boeing’s situation.

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