Consumer research firm Morning Consult reported Monday morning that its consumer sentiment index slid from 105.09 on March 16 to 103.19 on March 17. Based on its daily surveys, this marks an overall year-to-date decline of 10.09 points. Since February 23, the index has dropped by more than 10.1 points. For the second consecutive day, the consumer sentiment index has fallen to its lowest level since the firm began tracking it more than two years ago.
John Leer, Morning Consult’s economist, notes the one-day drop of 1.81 points between Monday and Tuesday is the largest in the two-year history of the index. All five of the largest daily declines have come in the past five days.
The Dow Jones industrials dropped almost 3,000 points on Monday and were trading nearly flat Tuesday morning. The VIX volatility index rose to 84.83 earlier this morning, a 52-week high.
Morning Consult also recently published the latest results of a survey of U.S. adults related to their concerns about the coronavirus outbreak and how they feel about the U.S. economy and leadership.
The Census Bureau’s report on retail sales for February fell below consensus estimates on nearly every measure. Month over month, sales dropped by 0.5%, while economists were looking for a gain of 0.2%. To some degree, the lower month-over-month totals were due to increases in January results.
The Trump administration is preparing an $850 billion emergency stimulus package that reportedly combines payroll tax cuts and includes $50 billion in assistance for U.S. airlines. The package being discussed comes in addition to a $100 billion program that would provide paid sick leave for some workers.
China has reported 21 new cases of the infection as of Tuesday, bringing the total number of cases in the country to 80,881. More than 3,200 Chinese have died from the coronavirus.
The United States posted 85 new cases Tuesday, bringing the country’s total to 4,748. There have been 93 U.S. deaths from the infection.
24/7 Wall St.100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.