NSTbusiness All 11 major sectors of the S&P 500 closed sharply lower. COVID19
President Donald Trump’s Europe travel ban, announced late on Wednesday, sent all three major US stock indexes into a tailspin, with the S&P 500 and the Nasdaq confirming their first bear market since the financial crisis.
A bear market is confirmed when an index sinks 20 per cent or more below its most recent closing high. Trump’s sweeping travel restrictions, limiting flights from continental Europe to the United States, sent European shares to a near four-year low and slammed airline stocks, already battered by the spread of Covid-19.Boeing Co fell another 18.1 per cent as JP Morgan abandoned its long-term backing for the company’s shares, setting the planemaker on course for its worst week ever.
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