The Weekly Summary

March 9th – March 15th                                 2020

In the general news, all of Italy and most of the rest of Europe locked down borders and imposed other public gathering limits as coronavirus became a pandemic. President Trump announced a rare state of emergency and banned most flights from Europe. Virtually all sporting events were cancelled, including the NHL, NBA, PGA Tour, March Madness, and The Masters. All of that caused historic volatility in the markets with the Friday ending with a record buying spree. Then, the Fed slashed rates to zero and agreed to buy nearly a trillion in bonds and other debt, ala the Obama years.

In healthcare business news, Republican senators are pushing legislation to reduce pharmaceutical dependency on China.

On the data front, small trials of Gilead’s (GILD) remdesivir to treat COVID-19 have been successful.

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