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5/2/2020, 11:19 PM (Source: TeleTrader)
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Buffett: American economy will survive coronavirus

Billionaire investor Warren Buffett said on Saturday that the United States economy will survive the negative impact of the coronavirus as "nothing can basically stop America."

"The American miracle, the American magic has always prevailed and it will do so again," Buffett stated during Berkshire Hathaway's virtual shareholders' meeting. He noted that this is the first time ever the world's "most productive" country was forced to "sideline" its economy and workforce, but remained confident it will be able to bounce back once the virus is contained as it has done following other crises in the past.

Earlier today, Buffett's Berkshire reported a net loss of $49.75 billion for the first quarter of 2020.

Breaking the News / NP