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Key Words: Kudlow, urging stock buying, says the coronavirus threat to the U.S. is low

Top White House economist Larry Kudlow on Friday said investors should think about getting back into the stock market as the Dow Jones Industrial Average was on track to its worst weekly loss since 2008 over fears the COVID-19 epidemic may impact the global economy. Read More...
Bloomberg News
Larry Kudlow.

Top White House economist Larry Kudlow on Friday said investors should think about getting back into the stock market as the Dow Jones Industrial Average was on track toward its worst weekly loss since 2008 over fears the COVID-19 epidemic may impact the global economy.

‘I still think long-term investors should give very serious thought to coming back in or adding to their positions in the stock market.’

Larry Kudlow, National Economic Council

Appearing on Fox Business Network, the director of the White House National Economic Council said “our threat assessment is low and the economy is fundamentally sound.”

Read: Dow falls more than 900 points as coronavirus fears put stocks on verge of worst weekly slide since 2008.

As MarketWatch reports, there are few signs investors are eager to wade back into the market following the acceleration of the selloff late Thursday. The Dow DJIA, -1.38% was off 800 points with just minutes left in the trading session Friday.

Kudlow, in the interview and in separate comments to reporters, stressed that he hasn’t seen evidence of supply-chain disruptions affecting the U.S. economy, and that the Trump administration isn’t planning what he called “precipitous policy moves.”

See: What Apple, Microsoft, Nike and other U.S. companies are saying about the coronavirus outbreak

The NEC chief is a member of the administration’s task force on the virus that is headed by Vice President Mike Pence. Pence spoke to a conservative political conference on Thursday and called the risk to Americans from the virus low but said the administration is “ready for anything.”

Now read: How far away is the coronavirus-fueled stock slump from entering a bear market?

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