WDET-FM: Matthew Roling on economic impact of coronavirus
It’s been a wild roller coaster ride on Wall Street this past week. Last week saw one of the biggest drops in the Dow’s history. Yesterday, the market saw its biggest single-day jump in history. Matthew Roling is the Interim Chair for the Department of Accounting at Wayne State University Mike Ilitch School of Business. Roling told Detroit Today host Stephen Henderson that “the market rewards patience, diversification and low fees.” He says the large drop last week in stocks was undeniably a reflection of the interconnection between the U.S. and Chinese economies, adding that the consensus cause of the dip by economists was the coronavirus outbreak in China. “It was a realization by the market that what’s going on with this virus might seriously wreak havoc on our economy.”
