'Every financial downturn is different, and every financial downturn is the same,' says Sallie Krawcheck, former Wall Street exec and CEO of Ellevest
"Every financial downturn is different, and every financial downturn is the same," Krawcheck, now the founder and CEO of investing company
The causes of the two market crashes are vastly different. The coronavirus crash's causes are straightforward: The economy is shuttered due to stay-at-home orders, and non-essential businesses have made massive layoffs due to closures.and uncertainty on top of health concerns are causing fallout throughout the economy and world.
This time around, an invisible, natural force is grinding markets to a halt. On top of the economic issues of the coronavirus, the health worries around the coronavirus add a layer of complexity, Krawcheck said.
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