STOCKS SUFFER WORST WEEK SINCE FINANCIAL CRISIS OF 2008

Feb 28, 2020

By Christine Ross

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The global health crisis of the coronavirus has also become an economic crisis. Canada’s largest stock plunged for a sixth-straight day, capping off its worst week since the global financial crisis of 2008. The virus outbreak has emptied shops and businesses and shut down major sites and events. The head of the World Health Organization says the risk of the virus spreading worldwide is ‘very high’ as close to 60 countries have reported cases. There is one financial positive. The U-S Federal Reserve says it will ‘act as appropriate’ to support the American economy amid the fears. It’s seen as a strong signal of a rate cut, perhaps at the Fed’s next meeting March 17th.

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