• Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
Wednesday, April 14, 2021
Informed American Today
No Result
View All Result
  • Breaking News
  • Politics
  • Business
  • Economy
  • Stock Market
  • Editor’s Choice
  • Breaking News
  • Politics
  • Business
  • Economy
  • Stock Market
  • Editor’s Choice
No Result
View All Result
Morning News
No Result
View All Result
Home Breaking News

Dow sheds 800 points as pandemic fears grip Wall Street

informedamericantoday by informedamericantoday
February 24, 2020
in Breaking News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

READ ALSO

S&P 500, Nasdaq up as tech stocks rise after J&J vaccine pause

China reins in Jack Ma’s Ant Group with enforced revamp

imageStock Markets13 minutes ago (Feb 24, 2020 10:13AM ET)

(C) Reuters. A trader works on the trading floor after the closing bell at the New York Stock Exchange (NYSE) in New York City

By Medha Singh

(Reuters) – The Dow Jones Industrials shed 800 points on Monday as investors scurried to safer assets after a sharp rise in coronavirus cases outside China fueled fears of a bigger impact to global growth.

Gold rose to a seven-year high and the inversion between the 3-month and 10-year U.S. Treasury yields deepened as a rise in cases in Iran, Italy and South Korea over the weekend fanned fears of a pandemic. An inversion of the curve is a classic recession signal. [US/]

All of the Dow’s 30 blue-chip members, as well as the 11 major S&P sectors were in the red. Technology stocks dropped 3.1% and were the biggest drag on the benchmark index. Defensive utilities and real estate posted the smallest declines.

Apple Inc (NASDAQ:AAPL) slid 3.5% as data showed sales of smartphones in China tumbled by more than a third in January.

Last week, Wall Street’s main indexes notched record highs, partly on optimism that the global economy would be able to snap back after an initial hit, supported by central banks.

“Some people are re-assessing the extent to which China is being damaged by the spread of the virus and, more broadly, whether other parts of world will get contagion effects of that,” said Nitesh Shah, director of research at WisdomTree.

Chipmakers, which heavily rely on China for revenue, were among the worst performers, with the Philadelphia SE Semiconductor index down 4.2%.

Interest rate-sensitive banks shed 2.7%, while the CBOE Volatility Index, a barometer of expected near-term market volatility, jumped to a six-month high.

At 9:55 a.m. ET, the Dow Jones Industrial Average was down 764.01 points, or 2.64%, at 28,228.40, the S&P 500 was down 83.88 points, or 2.51%, at 3,253.87. The Nasdaq Composite was down 280.96 points, or 2.93%, at 9,295.63.

Health insurers such as UnitedHealth Group Inc (NYSE:UNH), CVS Health Corp (NYSE:CVS) and Cigna Corp (NYSE:CI) dropped between 3% and 4.8% as Bernie Sanders, who supports the elimination of private health insurance, strengthened his position for the Democratic presidential nomination with a decisive victory in the Nevada caucuses.

In a rare bright spot, Gilead Sciences Inc (NASDAQ:GILD), whose antiviral remdesivir has shown promise in monkeys infected by a related coronavirus, rose 5.8%.

Declining issues outnumbered advancers for a 8.29-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 9.47-to-1 ratio on the Nasdaq.

The S&P index recorded six new 52-week highs and 17 new lows, while the Nasdaq recorded nine new highs and 112 new lows.

Dow sheds 800 points as pandemic fears grip Wall Street

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Posts

Breaking News

S&P 500, Nasdaq up as tech stocks rise after J&J vaccine pause

April 13, 2021
Breaking News

China reins in Jack Ma’s Ant Group with enforced revamp

April 12, 2021
Breaking News

Record penalty for Ma’s Alibaba marks tumultuous stretch for its founder

April 11, 2021
Breaking News

Korean battery firms set to announce deal to resolve U.S. trade dispute – sources

April 10, 2021
Breaking News

Wall Street treads water after record rally on economic rebound hopes

April 6, 2021
Breaking News

Tech lifts S&P 500, Nasdaq; indexes post gains for quarter

April 1, 2021
Next Post

Some Samsung, Hyundai workers self-quarantine as Korea Inc braces for virus impact

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

POPULAR NEWS

An incident known as ‘bathroomgate’ left some Coinbase employees feeling ‘targeted,’ say former workers. It’s the kind of fight CEO Brian Armstrong wants to avoid.

An incident known as ‘bathroomgate’ left some Coinbase employees feeling ‘targeted,’ say former workers. It’s the kind of fight CEO Brian Armstrong wants to avoid.

October 3, 2020
These custom sleeper cabs are like luxurious tiny homes for long-haul truckers — see inside

These custom sleeper cabs are like luxurious tiny homes for long-haul truckers — see inside

September 20, 2020
Disgusting, female Secret Service Agents Had to be Protected From BIDEN!!

Disgusting, female Secret Service Agents Had to be Protected From BIDEN!!

May 11, 2020

Snowflake salaries revealed: From $69,000 to $215,000 a year, here’s how much the $12 billion unicorn pays its employees

September 15, 2020
This Google leadership exec quit after months spent meditating under lockdown: ‘I could never go back to that lifestyle.’

This Google leadership exec quit after months spent meditating under lockdown: ‘I could never go back to that lifestyle.’

October 4, 2020

EDITOR'S PICK

Wall Street Climbs as Chip Stocks Bounce on Firmer Earnings

Wall Street Climbs as Chip Stocks Bounce on Firmer Earnings

July 1, 2020
Stocks – U.S. Futures Push Higher;  More Aid Welcomed

Stocks – U.S. Futures Push Higher; More Aid Welcomed

April 23, 2020
U.S. Supreme Court takes up Trump bid to withhold parts of Russia report

U.S. Supreme Court takes up Trump bid to withhold parts of Russia report

July 3, 2020
Asian shares jump, yields rise as Fed readies corp bond buying

Asian shares jump, yields rise as Fed readies corp bond buying

June 16, 2020

Disclaimer: InformedAmericanToday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2021 Informed American Today. All Rights Reserved.

No Result
View All Result
  • Breaking News
  • Politics
  • Business
  • Economy
  • Stock Market
  • Editor’s Choice

Copyright © 2020 informedamericantoday.com. All Rights Reserved.

informedamericantoday
HERE'S YOUR FREE SPECIAL!
Sign Up For Our Business Newsletter Today And Stay Informed About The Most Important Stories For Americans.
We guarantee the protection of your personal data. Please find out more about our privacy policy here.