By: Matthew Theal, CFP® & Joshua Winterswyk, CFP®
During these fearful times, we will be starting a new series publishing every Friday afternoon recapping what we are reading and the content we have produced. We hope you enjoy!
This week was one for the history books. It will be known for when America started to shut-down to go to war with COVID-19.
We literally packed a year of news into a single week, here is what happened: S&P 500 dropped the most in a single day since 1987, Crude Oil crashed by 30%, COVID-19 exploded into the mainstream, the Federal Reserve injected $1.5 trillion in the U.S. Treasury market to help with liquidy, every sports league went on hiatus, school districts across the country shut-down and major corporations are telling employees to work from home. The week ended with President Trump declaring a National Emergency.
Our country is preparing for war with a virus.
Best From the Web
The Trump administration is finally starting to move with a plan to battle COVID-19. He has enlisted major corporations like Google, Wal-mart, CVS, and Target to help. In addition, he waived interests on student loans and announced the treasury department will be oil, potentially giving a lift to the shale industry.
This is a very detailed read about the battle we are facing as a nation. This article has gone viral gaining over 17,000,000 page views. This is must-read if you want to understand why people are taking this virus seriously.
Here is a fascinating look inside Italy’s battle with the virus. We do not what to be like Italy.
Adam Silver’s decision to put the N.B.A on pause is how the majority of Americans’s woke up to the realities of the Coronavirus. He will go down as a hero.