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March 17, 2020

Stock Market Plummets as Trump Acknowledges Economy "May" Be Headed Toward Recession
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The Dow dropped nearly 3,000 points, and the S&P 500 fell about 12%
Monday - the largest drop since 1987's "Black Monday" - despite the Fed
cutting interest rates to near zero. Over the weekend, Treasury
Secretary Steve Mnuchin said the stock market turmoil is a "great
investment opportunity" for long-term investment. A reporter asked Trump
Monday if the economy was headed toward a recession.

President Donald Trump: "Well, it may be. We're not thinking in terms of
recession. We're thinking in terms of the virus. Once we stop, I think
there's a tremendous pent-up demand, both in terms of the stock market
and in terms of the economy. And once this goes away, once it goes
through and we're done with it, I think you're going to see a
tremendous, a tremendous surge."



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