Stock market swings
by Harvest Prude
Posted 3/05/20, 12:25 pm
After rebounding on Wednesday, the U.S. stock market started to slide again on Thursday. Wednesday’s bounce back after Vice President Joe Biden’s resurgence in the Democratic Party’s Super Tuesday contests revealed Wall Street’s worries about Sen. Bernie Sanders, I-Vt., who has pledged to regulate banks and eliminate private health insurance. Many consider Biden more business-friendly.
Why the back and forth? On Wednesday, the markets probably got a boost from news of the House of Representatives’ $8.3 billion coronavirus aid package. The Federal Reserve’s emergency cut in interest rates on Tuesday didn’t seem to have as much of an effect. Travel-related stocks continue to fall sharply, but losses were widespread on Thursday as COVID-19 cases outside of China continued to rise.
Dig deeper: Read more about Biden’s strong showing on Tuesday.
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