Technology companies hardest hit as bond and gold prices jump
As predicted by the Federal Reserve a few weeks ago, the U.S. Economy began to see the waves of impact the Chinese-located outbreak created in local and global trade. With so many American-consumed products currently being produced in Chinese based factories, investors were spooked seeing usually consistent technology and auto stocks take a dip.
With investors uncertain, they turned to government bonds to try and find economical stability in the downturn. This drove the price of bonds upward, and lowered further monetary yield for the U.S. Treasury, from 1.98% late Thursday to 1.91% end of day Friday. This is the lowest percentage yield the 30 year Treasury has seen.
As the Lord Leads, Pray with Us…
- For the U.S. Treasury as they advise our administration on next steps.
- For Treasury Secretary Steven Mnunchin as he works to stabilize and assure his Department.
- That those affected by the coronavirus would recover fully and speedily.
Sources: AP
