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  • Wall Street stocks "will bounce back," but the US Federal Reserve should nonetheless cut interest rates again, President Donald Trump said Friday following the release of a blockbuster employment report. "Job numbers are incredible," the president said after new Labor Department data showed the US economy adding 273,000 new jobs in February after an equal increase in January. But "The Fed should cut and the Fed should stimulate," Trump told reporters as he signed a bill providing $8.3 billion for the coronavirus. The jobs data also showed the January and December jobs gains revised upwards, with the back-to-back figures blowing away all expectations and providing some good news after a week of turbulence in the stock market. Even so, the benchmark Dow Jones Industrial Average fell by 3.6 percent on Thursday and opened Friday down 2.6 percent amid the growing possibility the spreading coronavirus could ultimately depress the consumer-focused US economy. Meanwhile, fears of a decline in global demand sent Brent oil prices below $50 a barrel for the first time since 2017. Since emerging in China, the COVID-19 virus has killed more than 3,300 people and infected nearly 100,000 in about 85 nations, raising fears of global economic upheaval. sms-cs/hs
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  • Wall Street 'will bounce back,' Fed should cut rates again: Trump
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