Trump Says We May Be Headed for a Recession: Are You Prepared?
Monday was another brutal day on Wall Street, with the Dow Jones Industrial Average tanking by 13%, its second-worst single-day drop in history, and the S&P 500 falling by 12%, its biggest one-day plunge since October 1987. Meanwhile, COVID-19 continues to throttle American life as we know it. Schools have closed nationwide, leaving countless working parents scrambling. And small businesses across the country are already beginning to struggle as their customers stay away in droves. Some are being forced to shut down -- either due to government mandate, appropriate caution, or lack of clientele. It's all leaving business owners wondering how they'll pay vendors or make rent, and leaving those who work for them wondering when they'll see their next paychecks.
These conditions provide all the ingredients to launch the U.S. into a full-blown recession, and on Monday, President Trump acknowledged that as a possibility. He also stated that we could be dealing with this COVID-19 outbreak until July or August, which could leave the U.S. economy reeling.
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Source Fool.com
