The emerging coronavirus pandemic is already crimping global commerce. In response, the S&P 500 has thus far put in two weeks’ worth of declines (the index fell 2.1% last week) since making new highs to start the year.

Even though the U.S. stock market hasn’t even entered a true “correction” phase yet, Wall Street is already clamoring for more Fed stimulus.

Mainstream stock market mavens figure the central bank will step in to limit downside – and they are probably right.

Following the Federal Open Market Committee’s decision on Wednesday to keep rates unchanged, Fed Chairman Jerome Powell said he is “carefully monitoring the situation” with regard to the Chinese virus.

It is hitting inflation-sensitive commodities copper and crude oil especially hard. Oil prices dipped 5% last week ... Read more »