REUTERS: Wall Street tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
"We have still not fully understood the degree of the economic impact," warned Massud Ghaussy, senior analyst at Nasdaq IR Intelligence in New York. The bill, along with unprecedented policy easing by the Federal Reserve, helped the S&P 500 surge 10.3per cent for the week, its best week since 2009. However, the U.S. stock market benchmark is still down about 25per cent from its February high.
"Next week will depend on what happens over the weekend," said Lindsey Bell, Chief Investment Strategist at Ally Invest."If there is a major acceleration over the weekend of coronavirus cases in New York and other states and the hospital system continues to get jammed up, then I think it will be a rough week for the market."
Cover ur nose.bruh
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street rebound fizzles out as fears of virus impact persistU.S. stock index futures rose on Wednesday, putting Wall Street on course to extend its massive bounce from the previous session, as Washington ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street slumps after three-day rally as virus threat intensifiesDoubts about the fate of the U.S. economy in the face of the coronavirus hammered Wall Street again on Friday, halting its best three-day bounce ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street heads for lower open after three-day surge as virus fears growU.S. stock index futures fell on Friday, a day after the S&P 500 and Dow posted their best three-day run since the 1930s, as the United States ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street gains as job losses stir talk of more stimulusU.S. stock index futures slipped on Thursday after a two-day rally as investors braced for what is expected to be one of the worst U.S. jobless ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street Week Ahead: Fund rebalancing could help buoy stock reboundMoney managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street rallies as job losses stir talk of more stimulusWall Street surged on Thursday as record weekly jobless claims came in below investors' worst fears, making a case for more aggressive stimulus to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »