Billionaire Bill Ackman Demands Trump Demonstrate “Leadership,” Order 30-Day Nationwide Shutdown

Billionaire Bill Ackman, the CEO of Pershing Square Capital, took to Twitter to demand President Donald Trump order a 30-day nationwide shutdown to curb the spread of the coronavirus.

Shutting down the country and closing our borders “is the only answer,” Ackman said in response to a growing public health crisis that has claimed the lives of at least 117 Americans nationwide, with no sign that the rate of infections will drop anytime soon. read more

Stocks Plunge Again, Dow Loses All Gains Since Trump Took Office

The Dow Jones Industrial Average has lost all gains it amassed since President Donald Trump took office, a further indication of the turbulent effect of the coronavirus pandemic on global markets. The Dow plunged 1,428.48 points, or 6.7 percent, an intraday low of 19,808.90. That’s below its close of 19,827.25 on Jan. 20, 2017, the day of the president’s inauguration. read more

Odds of a Global Recession “Are Close to 100 Percent,” Says Former White House Economic Adviser

Speaking on CNN, former chairman of the White House Council of Economic Advisers Kevin Hasset said a global recession is imminent, with a loss of 1 million jobs in April.

“I think that the odds of a global recession are close to 100 percent right now,” Hassett said. “I think in the U.S., we’re going to have a very terrible second quarter. At The Lindsey Group, we just ran the numbers carefully over the weekend, and we think the second quarter will be about minus 5 percent.” read more