Economic impact of coronavirus on stock market

How likely is a new depression?

Hundred total confirmed cases there.

As the country grapples with the coronavirus pandemic... our economy continues to suffer the consequences.

On the heels of nearly six consistent years of uninterrupted growth?

The coronavirus stopped that streak last quarter.

Kimt news 3's isabella basco is bringing us the latest numbers and how this downturn could impact you.

Isabella?

Live well... here i have a graph from the u.s. bureau of economic analysis.

You can see the gross domestic product... which is economic activity in the country... has decreased at a rate of 4.8 percent in the first quarter of 2020.

That's the worst plunge in a decade.

I talked to economics expert rayce hardy to get more context for these numbers.

He says america is in a recession now that we are experiencing a downturn?

Americans are going to feel a huge impact.xxx "we're gonna feel this for years, sectors of this economy has been devastated by this.

It's not just covid.

Covid has devastated, we had trade wars, which devastated, we had prior to covid, we had more bankruptcies in the dairy industry."

Interestingly enough?

Hardy says now is the time for young people to invest in a roth ira?

A retirement account that will help you secure some emergency money if you need to get any expenses covered.

Live in rochester ib thank you isabella.

Hardy also wants to point out?

There is a silver lining: the average american is saving more right now... a dime to the dollar to be exact.///