Falling Confidence and No Federal Stimulus Increase to Start the Week
On Sunday night, more fear about the potential impact the spread of COVID-19 may have on economic activity in the U.S. and the uncertainty about oil prices in the wake of a potential price war between Russia and Middle Eastern oil providers soured investors again. Early this morning, U.S. Treasury yields, the price of crude oil, and the S&P 500 futures fell. The S&P 500 fell more than 7%. Circuit breakers were triggered which halted trading for 15 minutes. There has been only limited federal government action to date, and it may appear to some that not all federal lawmakers are taking the health care and economic threat COVID-19 poses as being credible.