In this photo taken from video provided by the New York Stock Exchange, NYSE Security Director Gregory Crane rings the opening bell at the NYSE on Wednesday, April 1, 2020. U.S stocks joined a worldwide downdraft Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
Such restrictions have already deeply gashed the economy, and Whiting Petroleum, one of the biggest drillers in the Bakken shale formation, filed for Chapter 11 bankruptcy protection Wednesday, with the price of oil near $20 a barrel. Automakers also reported sharp drops in U.S. sales for March, including a 43% plunge for Hyundai. Mortgage applications tumbled 24% from year-ago levels as open houses are all but shut down.
Stocks have plunged this year as the coronavirus pandemic forces economies into what is expected to be a steep, sudden recession. The S&P 500 just closed out its worst quarter since 2008 with a 20% loss. Even Friday’s more comprehensive jobs report from the government may not show the full scale of the layoffs sweeping the country, according to Rhea Thomas, senior economist at Wilmington Trust. Small businesses are seeing the sharpest declines in employment, and some firms that closed may not be responding to the survey.
For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, and death. The S&P 500 fell 114.09 points to 2,470.50, and all 11 sectors that make up the index lower. Among the few gainers were Kellogg, Dollar General and other companies selling day-to-day essentials that households are stocking up on to ride out stay-at-home orders.
Beginning of the end !
Why not close the markets for 30 days?
ItsAllTrumpsFault TrumpGolfsWhileVirusSpreads
TrumpOwnsEveryDeath
realDonaldTrump Mike_Pence FYI
Relax congress is going on vacation till April 20th. Bet ya they won't be wearing face masks or practicing social distancing...
Who cares?
The second Great Depression is happening right before our eyes.
XRP going up tho 🤔
Check out The New Center's policy series 'Centering on Coronavirus,' which provides insights and analyses of how COVID-19 is progressing and how it is affecting our economy, society, and health care system: