Stocks Market Updates: Dow Jones ends with 400 points lower

Stocks Market Updates: Dow Jones ends with 400 points lower

U.S. stocks declined for the second time in three days following the arrival of March economic data that demonstrated endeavors to battle the COVID-19 pandemic were taking far more damage. The Dow Jones Industrial Average DJIA, +0.16%, fell 445 points, or 1.9%, to close at around 23,507. 

 

Meanwhile, the S&P 500 list SPX, – 0.05% withdrew 62 points, or 2.1% to end the meeting at approximately 2,783. The NASDAQ Composite record COMP, – 0.00% fell 123 points, or 1.4% to close approach 8,393.

 

The Commerce Department stated that retail deals stumbled 8.9% in the month of March, versus the 7.2% fall expected by business analysts, while the Federal Reserve said that industrial production also fell more than anticipated a month ago. 

 

Efforts to stop the spread of COVID-19 didn’t start decisively in a significant part of the nation until late March, driving investors to foresee that the economy in April will be much increasingly severe.

 

 In organization news, Dow segment UnitedHealth Group UNH, +3.00% saw its shares rise 4.1% after it reaffirmed its 2020 income direction. Meanwhile, portions of banks Citigroup C, +0.52%, and Bank of America BAC, +0.32% fell 5.6% and 6.5%, separately after each announced steep decreases in benefit and income during the first quarter. 

U.S. stocks closed lower as COVID-19 toll pummels earnings

Oil stocks slide as U.S. rough settles underneath $20 a barrel. U.S. stocks finished lower Wednesday, amid an onslaught of frustrating corporate earnings data reports result in the worst outcomes because of the COVID-19 pandemic.

How did major indexes fair?

The Dow Jones Industrial Average DJIA, +0.16% fell 445.41 points, or 1.9%, to settle at 23,504.35. The NASDAQ Composite COMP, – 0.00% drooped 122.56 points, or 1.4%, to close at 8,393.18. The S&P 500 SPX, – 0.05% slipped 62.70 points, or 2.2%, to end at 2,783.36. 

 

The Dow on Tuesday went up 558.99 points at 2,846.06. The NASDAQ Composite Index rose 323.32 points or 4%, closing at 8,515.74.

 

Of the three major indexes, just the Dow is higher for the week, up 2.9% on Wednesday.

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