Stocks Plunge To Start Second Quarter As U.S. Tops 200,000 Coronavirus Cases

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The stock market plunged today, marking a dismal start to the second quarter as coronavirus continued to take a toll on the economy, and a slate of bad news related to the pandemic caused concern on Wall Street by skleb1234

that the coronavirus market sell-off will worsen again in April, with the market bottoming lower than it did during the worst of the sell-offs in March.The market’s sharpest declines on Wednesday were in utilities and real estate stocks—both sectors dropped over 6%, with banks not far behind. The consumer staples sector held up the best, only dropping 1.8%.The Dow and S&P 500 fell 1.8% and 1.6%, respectively, on Tuesday—closing out their worst first quarters performances ever.

“economic data, earnings, and stimulus announcements are all subordinate to science... stocks care much, much more about transmission trends and treatment efficacy.”

 

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