Nasdaq CEO: “The plumbing of the markets are working very, very well”
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As of Thursday’s close, the Nasdaq composite, one of the three most-followed stock indexes in U.S. markets, has dropped almost 30% since February. “Marketplace” host Kai Ryssdal spoke with Adena Friedman, president and CEO of Nasdaq, about whether the markets are functioning properly.
“The plumbing of the markets are working very, very well,” Friedman said. “Of course, people are finding that there are a lot of stresses in the system. There’s a lot of volatility in the markets. But the markets are handling it well.”
As markets have fallen during the COVID-19 pandemic, some people have suggested closing the markets until things settle down. Friedman said despite the volatility, markets remain essential to companies and investors.
“If you close the markets, you’re just pushing an issue a few days away, but potentially creating a much bigger issue on the back of that with a lot of pent up demand and anxiety,” she said. “We need to continue to keep that key pillar of the economy open and functioning.”
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