By Robert Hughes
The small-business-optimism index from the National Federation of Independent Business plunged a record 8.1 points to 96.4 in March versus 104.5 in February (see top chart). The latest result ends a run of 39 consecutive months above 100. The index is now at its lowest level since October 2016.
According to the report, "The COVID-19 outbreak and regulatory responses to curtail its spread shook the small business sector in March. Small business owners' outlook is bleak as they wrestle to adjust quickly to rapidly changing economic conditions. Many owners have had to