President Trump is proposing a 25% tax on steel brought to the U.S., and a 10% tax on aluminum. The announcement sent the stock market into a tailspin. RNC Spokeswoman Kayleigh McEnany says Americans should not be surprised by the move.
From the time he was a businessman, Donald Trump has criticized America's trade imbalance and pushed for reform. "What President Trump has done is not different then what many Republican president's have done," McEnany said.
President Trump's unpredictability has lead to GOP infighting. McEnany says the RNC appreciates robust debate on all issues, but also encourages Republicans to get behind the President because he is fulfilling campaign promises. She added that the Democratic party is actually the one falling apart ever since it failed to put forward viable presidential candidates back in 2016.
Lenore Hawkins, chief macro strategist for Tamatica Research, told Cheddar that the combination of the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia is an unprecedented set of circumstances for investors.
The Dow Jones Industrial Average plummeted 1,500 points, or 6%, following similar drops in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new coronavirus.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Bond yields fell to more record lows as investors continue to demand safety and unload stocks. The yield on the 10-year Treasury note sank as low as 0.66% as investors worried that economic damage from the spreading virus outbreak will be worse than previously thought.
Cheddar will be following the biggest political headlines as voters head to the polls in critical Super Tuesday primaries.
Dr. William Schaffner of Vanderbilt University said taking steps like sanitizing the subway system "may play a small role in mitigating the transmission of this virus, but it signals to people that we ought to be functioning as we can and doing the things we can do."
Stocks are falling sharply again in midday trading on Wall Street, and bond yields are sinking to more record lows on worries about the economic damage coming from the spreading coronavirus outbreak.
President Donald Trump on Friday signed an $8.3 billion measure to help tackle the coronavirus outbreak that has killed more than a dozen people in the U.S. and infected more than 200.
These are the headlines you Need 2 Know for Friday, March 6, 2020.
U.S. Representative Pete Aguilar of California voted yes on an $8.3 billion coronavirus emergency package bill, a much higher figure than the $2.5 billion requested by the White House.
