Stocks & Bond Yields Are Crashing After Trump Announces Full Travel Ban (Update)

Manage
1

Shortly after President Trump began his address to the nation, enacting a full travel ban from European nations for the next 30 days, the markets started to get upset.

[i]Dow futures are down over 1000 points…

Japan’s Nikkei 225 is down over 850 points…

Nasdaq futures are limit down…

S&P is close to limit down…

European Stoxx 50 futures are down 7.3%

10Y Treasury yields are down 15bps…[/i]

It appears Trump did not offer enough detail and immediacy for the funds the market is demanding to stop the collapse.

Regards
James

2

I would like to not become political but the handling of this has been disappointing to say the least. It’s cheap words to assuage a panicky market. The market needs action, not just promises.

3

Doesn’t help that Trump terminated the U.S. pandemic preparedness team in 2018. Saved a few bucks, threw out all the planning and cross-agency work. Maybe because it was set up by Obama in response to overseas epidemics.