Wednesday, 13 May 2020 07:30 AM MYT
Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told Congress that the virus, which has already killed 80,000 Americans, was not yet under control and that there would not likely be a treatment or vaccine in place by late August or early September. “It goes back to science versus the Federal Reserve. The Federal Reserve has been supportive of the market ... What's going to win here?,” said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York.
Among the S&P's 11 major sectors, real estate was the biggest percentage decliner with a 4.3 per cent drop.
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