Stocks and bond yields are down sharply on Wall Street as optimism that the reopening of businesses would drive a relatively quick economic recovery fades amid rising coronavirus cases in many U.S. states and countries.
MGM Resorts International and PVH, owner of the Calvin Klein and Tommy Hilfiger brands, were among the biggest decliners. Each was down more than 12%.The Dow Jones Industrial Average was down 1,259 points, or 4.7%, to 25,730. The Nasdaq composite, which was coming off an all-time high, slid 3%. Small company stocks continued to bear the brunt of the selling. The Russell 2000 index was down 5.6%.
Emergency rescue efforts by the Fed and Congress helped arrest the market’s staggering 34% skid in February and March. Since then, the market had been riding a wave of investor optimism that the economy will bounce back by the end of the year, if not sooner, as businesses reopen and people go back to work. But confidence in that scenario is waning as infections and fatalities continue to climb in the U.S. and elsewhere.In the U.S.
Hey Eric Trump... NO bragging ?
It must be stressful knowing the Fed will do literally anything to make sure you don't lose any money whatsoever.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks fall sharply on Wall Street as investors turn jitteryBREAKING: Dow Jones plunges more than 1,500 points as optimism that the reopening of businesses would drive a relatively quick economic recovery fades amid rising coronavirus cases in some U.S. states. TrumpRecession is here to stay It is absurdly stupid for people who can see and read that there was any optimism. The stock market and those who drive it are just greedy toddlers with amnesia. That's the way the cookie crumbles
Source: ABC - 🏆 471. / 51 Read more »
Stocks open lower on Wall Street as investors turn jitteryStocks are opening sharply lower on Wall Street as investors turn jittery once again in the face of rising numbers of coronavirus infections in many U.S. states and countries. The S&P 500 was down... QUICK! BrianKarem Check which trump staffers are dumping stocks- or buying. Attn GovRonDeSantis Increased Testing...
Source: AP - 🏆 728. / 51 Read more »
Stocks open lower on Wall Street as investors turn jitteryStocks are opening sharply lower on Wall Street as investors turn jittery once again in the face of rising numbers of coronavirus infections in many U.S. states and countries And the clowns at ABC cheer. Has no masks caused protest and riots by the “left wing” of the Democrat Party? How is this shocking news to anyone? Virus isn’t going anywhere. Until we get the virus under control (like NZ) the economy won’t recover. Success in managing Covid is inextricably linked to the success of US economic recovery. Powell said that & it’s just plain common sense.
Source: ABC - 🏆 471. / 51 Read more »