A plunging stock market. The widening shadow of recession. Fed interest rate cuts and government stimulus.
It’s beginning to feel a lot like 2008 again. And not in a good way.
For many Americans, the stomach-churning market drops and growing recession talk of the past few weeks – triggered by the global spread of the coronavirus – are reviving memories of the 2008 financial crisis and Great Recession.
Take a breath. While the toll the infection ultimately takes on the nation isn’t clear, the economic upheaval caused by the outbreak will likely not be nearly as damaging or long-lasting as the historic downturn of 2007-09.