In the Red: The COVID-19 Market Downturn

Skimm This

theSkimm

News

4.5 • 3.6K Ratings

🗓️ 28 February 2020

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, the stock market has been feeling the pain of COVID-19. We’ll look at what the current economic impact is and what a ‘market correction’ has to do with it. Meanwhile, the US and the Taliban are on the verge of a major peace deal. We’ll break down how the agreement could lead to the end of the US’s longest war. Also on today’s show: a look at pedestrian safety, the annual convention of conservative activists, and a leap-year tradition that could be skipped over. PS: Click here for more pedestrian safety tips. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Friday, February 28th.
0:03.2	Welcome to Schim this.
0:04.4	We're breaking down the most complex stories of the day and giving you the context on why
0:08.2	they matter.
0:09.7	This week, the stock market has been feeling the pain of COVID-19.
0:12.9	We'll look at what the current economic impact is and what a market correction has to do
0:17.6	with it.
0:18.6	Then, the number of pedestrians dying in car crashes is at a three-decade high.
0:23.0	We'll explain why and give you some tips on how to stay safe when stepping out.
0:27.9	And finally, a leap your tradition that we propose skipping over.
0:31.9	We're here to make your evening smarter.
0:33.9	Let's skim this.
0:38.9	Today's episode is brought to you by H&R Block, your one-stop-tack shop.
0:46.2	Here's a term you may be hearing today.
0:48.4	Market correction.
0:49.4	It's coming up because of COVID-19, the disease caused by coronavirus.
0:54.4	Fears about the disease spreading are causing major economic concerns and leading to some
0:58.8	phrases getting dusted off for the first time in years.
1:01.8	Mike, market correction.
1:03.7	The word market refers to the stock market and this correction isn't positive.
1:09.3	It's used when the market drops between 10 and 20%.
1:13.8	That's where we are now.
	...

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