Jack
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$2.5 Trillion Wiped Out As World Stocks Crash Most Since 2008
https://www.zerohedge.com/markets/25-trillion-wiped-out-world-stocks-crash-most-2008As for global stocks, it's much of the same. MSCI All-Country World Stock Index is down 5.3%, on the worst day since December 2008. The move has wiped out approximately $2.5 trillion in value of global stocks, noted Reuters.
https://www.zerohedge.com/economics/white-house-hold-meeting-discuss-economic-stimulus"While we continue to assess the economic impacts, Chairman Grassley is exploring the possibility of targeted tax relief measures that could provide a timely and effective response to the coronavirus," said a Grassley spokesperson.
"Several options within the committee’s jurisdiction are being considered as we learn more about the effects on specific industries and the overall economy."
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Shortly after we posted a prediction from Goldman's David Mericle that the government and/or the Fed will need to immediately step in with monetary and fiscal stimuli to try and manage the recent chaos in the markets, VOA's Steve Herman reports that the White House will be holding a meeting to discuss economic stimulus later this afternoon. The meeting will include Treasury Secretary Mnuchin and the economic team.