Coronavirus and capitalism – why did the markets bounce back?
- Stock markets in the US have posted some of their worst ever losses as the novel coronavirus sparked mass sell-offs.
- The Dow dropped 1,191 points on Thursday, in its worst one-day point drop in history, while the S&P 500 posted its worst day since 2011. Stocks are on track for their worst week since the 2008 financial crisis.
- The UK’s FTSE lost £200billion – all three have bounced back, especially in Britain. WHY?
- Most of last Friday’s stock exchange losses have been recovered this morning. And why? Because the markets believe that the coronavirus scare has now got to government, and that they will now bail out markets in the event of it developing further, meaning that it’s time for stock exchanges to take private profit at public cost yet again.
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