NEW YORK: The Dow finished sharply lower on Tuesday (Mar 31) as it suffered its worst quarterly loss since 1987 amid a broader market rout over ...
NEW YORK: The Dow finished sharply lower on Tuesday as it suffered its worst quarterly loss since 1987 amid a broader market rout over the coronavirus outbreak.Advertisement
The broad-based S&P 500 shed 42.06 points to 2,584.59, while the tech-rich Nasdaq Composite Index shed 74.05 points to 7,700.10. Both also notched sizable losses for the quarter. Public health experts say there are signs the restrictions are beginning to limit the growth of the outbreak in some places, but the shutdowns are now widely expected to push the US economy into a recession.The Conference Board reported that consumer confidence sunk to 120 in March from 132.6 in February, as the view of the near-term outlook worsened significantly.
"Either households are delusional or we will have to wait another month to find out what is the true state consumer confidence." said economist Joel Naroff.
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