FT News Briefing Tuesday, March 17
Mar 17, 2020
Governments are imposing strict lockdowns to combat the coronavirus, causing a significant impact on daily life and financial markets. The Federal Reserve's emergency measures haven't prevented a stock plunge. An analysis reveals critical weaknesses in healthcare systems in the US and UK that could lead to collapse under pressure. Discussions also revolve around economic responses, including cash aid and airline bailouts, raising questions about prioritizing corporate over public interests. There's a focus on the challenges ahead in stabilizing economies and restoring confidence.
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Stay-at-Home Orders
- Governments worldwide advise citizens to stay home unless absolutely necessary.
- Only essential outings like grocery shopping or exercise are permitted.
Market Volatility
- Strict measures like lockdowns contribute to economic slump fears.
- Despite the Federal Reserve's actions, global shares and the S&P 500 continued to fall.
Calming Markets
- Jillian Tett suggests controlling the virus spread is crucial for calming markets.
- Central bank action alone won't restore investor confidence.