Ed Hyman, a widely followed economist on Wall Street, said the coronavirus outbreak could end up causing a recession in the U.S. and slashed his U.S. GDP forecast to zero growth in the second and third quarters of this year “More cases are showing up in the U.S. and seem likely to be just the […]
Tag: NASDAQ Composite
The Dow just lost 12% in one week. Here’s why and what likely happens next
The U.S. stock market suffered a historic pullback this week as the coronavirus spread outside of China, spooking investors and traders out of equities. The Dow Jones Industrial Average and S&P 500 each dropped 12% and 11% for the week, respectively, marking their worst weekly performance since the financial crisis. The 30-stock Dow posted its […]
US stocks erase $3.18 trillion in value this week amid coronavirus tailspin
The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices. The equity benchmark lost $203 billion in value on Friday, adding to its $2.997 trillion loss from Monday to Thursday, the firm’s Senior Index Analyst Howard Silverblatt told CNBC. The S&P 500 index has […]
What happened to the stock market Friday: Worst week since 2008
Traders work before the opening bell at the New York Stock Exchange (NYSE) on November 14, 2019 in New York City. Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks. JOHANNES EISELE | AFP | […]
Dow plunges 1,100, worst point drop in history, will Fed act?
This is a live blog. Check back for updates. 4:01 pm: Dow ends wild day down nearly 1,200 points The Dow tanked about 1,191 points, falling into correction territory, as coronavirus fears continued to drove investors away from risk assets. The 30-stock benchmark dropped 4.4% for its worst percentage day since Feb. 2018. On the […]
Dow falls more than 100 points as market’s attempt to rebound from sell-off fails
The Dow Jones Industrial Average fell on Wednesday, extending its sharp weekly decline, as the 10-year Treasury yield traded at a record low amid concerns over the coronavirus spreading even further. The 30-stock Dow closed 120 points lower, or 0.5%, after being up as much as 461.42 points, or 1.7%, earlier in the session. The S&P […]
Dow 2-day drop totals 1,910, Kudlow doesn’t help, Cramer stays away
This is a live blog. Check back for updates A trader works at the New York Stock Exchange in New York, the United States, on Feb. 24, 2020. Photo by Wang Ying | Xinhua | Getty 4:01 pm: Dow drops 3%, bringing 2-day point loss to 1,910 Major averages slid on Tuesday, accelerating Monday’s sharp […]
Dow futures bounce as market attempts to recover from worst drop in 2 years
U.S. stock index futures pointed to slight gains on Tuesday following the market’s worst decline in two years on concerns the coronavirus outbreak would dent global economic growth. As of 8:28 a.m. ET, Dow Jones Industrial Average futures were up 120 points, indicating a gain of 142 points at the open. S&P 500 and Nasdaq 100 futures […]
Dow plunges 1,000 points on coronavirus fears, 3.5% drop is worst in two years
Stocks fell sharply on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading. The Dow Jones Industrial Average closed 1,029 points lower, or 3.55%. The S&P 500 slid 3.4% while the Nasdaq Composite closed 3.7% lower. It was the Dow’s biggest point and […]
S&P all-time high, Tesla comeback, Microsoft turns negative
Elon Musk Mike Blake | Reuters This is a live blog. Check back for updates. 3:22 pm: Wayfair drops 13% as company announces job cuts Shares of the online retailer tanked 13% after the company said it was cutting roughly 3% of its workforce, which translates to around 500 jobs. The company said that around […]