Dow opens 750 points lower Wednesday as coronavirus fears fuel prediction of end of bear market

Wednesday, 11 March 2020 20:43 WIB

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U.S. stock indexes opened sharply skidded Wednesday morning, as the benchmarks resumed a slide lower, as hopes were dented for a quick round of fiscal stimulus to limit a U.S. economic slowdown caused by COVID-19 outbreak.

The Dow Jones Industrial Average fell 770 points, or 3.1%, at 24,258, while the S&P 500 index was down 2.6% at 2,807, while the Nasdaq Composite Index declined 2.5% at 8,144.

Analysts at Goldman signaled that the world-wide epidemic may result in a bear market, widely defined as a decline of at least 20% from a recent peak, that would usher in the end of the longest bull market run in history.

President Donald Trump has called for payroll-tax relief and other measures to help businesses deal with the economic slowdown resulting from the coronavirus epidemic, but lawmakers in both parties expressed skepticism about such measures.

Source : MarketWatch


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