Search ForexCrunch

“Stock markets may change and may get worse, but the White House will make no precipitous policy moves on the economy,” White House economic adviser Larry Kudlow said on Friday.

“More reports of coronavirus cases in the US does not mean cases will skyrocket in North America,” Kudlow told Fox Business Network. “Supply chain problems in the US have not yet surfaced but doesn’t mean they won’t.”

Market reaction

These comments failed to help Wall Street’s main indexes recover their losses. As of writing, the Dow Jones Industrial, the S&P 500 and the Nasdaq Composite were down 3.3%, 2.9% and 2.2%, respectively.