The NFIB Small Business Optimism Index fell 8.1 points in March to 96.4, the largest monthly decline in the survey’s history. Nine of the 10 index components declined, which is evidence economic disruptions are escalating on Main Street as small businesses struggle to keep their doors open. The small-business sector is anticipating and bracing for continued economic disruptions going forward.
“Small businesses are living through the coronavirus pandemic right now, and it’s hard to say what the severity of the disruption will be, but we do know they’re feeling the urgency,” said William Dunkelberg, NFIB chief economist. “It is vital that these businesses have access to federal funds that are made available through the CARES Act to keep the doors open on Main Street.”
The financial markets saw substantial change in March, with major stock market indices losing 22 percent of their value and jobless claims rising to a record 10 million in the last two weeks o