“It’s basically using up all [the Fed’s]
ammunition within a three-week span. And there’s nothing left,” said
Terence Wong, CEO of Azure Capital.
“The policy response is so strong, it’s likely to
spook investors,” added Michael O’Rourke, chief market strategist at
JonesTrading.
“The reason why markets are selling off right now
is we have a ton of information about the virus, but a very, very little
amount of understanding,” declared
Anthony Scaramucci of Skybridge Capital. “So, what’s happening right
now (is) we’re starting to price in the reduction in earnings for 2020
and the possibility now of a recession.”
Many investors also want to see coronavirus cases
peaking and falling in the U.S. before it is safe to take on risk and
buy equities again.
https://seekingalpha.com/news/3551875-why-selloff-after-feds-emergency-action
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