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Today, Explained

Coronavirus hits the markets

Today, Explained

Vox

Daily News, Politics, News

4.49.5K Ratings

🗓️ 10 March 2020

⏱️ 19 minutes

🧾️ Download transcript

Summary

The stock market’s going haywire. Major companies are telling their employees to stay home. Austin has canceled SXSW. Vox’s Matthew Yglesias says governments across the world have to act fast to save the global economy. (Transcript here.) Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:26.6

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0:30.5

So

0:41.8

Matthew Eglaceus, host of the weeds podcast, COVID-19,

0:45.3

the novel coronavirus finally seems to be hitting the economy.

0:48.7

The market's been all over the place.

0:50.3

Where are we now?

0:51.6

We had really big declines over the weekend and continuing through Monday,

0:55.4

stocks weigh down, interest rates weigh down, all kinds of commodity prices

0:59.5

weigh down, some particularly crazy stuff with oil,

1:02.4

but really across the board, down, down, down.

1:05.1

Tuesday we had a partial rebound, but if you look on a week long or month long

1:09.4

basis, it's still down across the board.

1:12.2

And you know, nothing has sort of fundamentally changed in terms of our scientific

1:16.9

understanding since Friday, but we're getting a really clear sort of warning sign

...

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