Wall Street's three main indexes lost between 1 and 2 percent on Tuesday as trading for March ended, but losses for the quarter were as high as 23 percent from the global economic ailing forced by the novel coronavirus (COVID-19) pandemic
NEW YORK (Pakistan Point News / Sputnik - 01st April, 2020) Wall Street's three main indexes lost between 1 and 2 percent on Tuesday as trading for March ended, but losses for the quarter were as high as 23 percent from the global economic ailing forced by the novel coronavirus (COVID-19) pandemic.
The Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, closed down 1.8 percent.
The S&P 500, barometer for the top 500 US stocks, settled down 1.5 percent, while the tech-heavy Nasdaq Composite finished down 1 percent.
For the quarter though, the Dow lost 23 percent, the S&P 500 20 percent and Nasdaq 14 percent.
The COVID-19 pandemic has dampened some 90 percent of global economic activity as authorities worldwide locked down or restricted the movement of about three billion people. The pandemic itself has infected more than 825,000 people and killed over 40,000.
In a gloomier outlook for the US economy, leading Wall Street bank Goldman Sachs recast its second quarter real GDP forecast to an annualized drop of 34 percent, versus its previous prediction of negative 24 percent.
