The
Dow Jones Industrial Average is displayed after closing bell on floor of the
New York Stock Exchange (NYSE) ©
REUTERS/Andrew Kelly
Source:
RT News
The
Dow Jones plummeted nearly 3,000 points (2,997.1, to be exact) at the close of
trading on Monday, finishing down 12.93 percent as markets continued to slide
despite tripping a circuit-breaker minutes after opening.
The
S&P 500 sank by a whopping 12 percent, while the Dow Jones Industrial
Average dropped 13 percent. The Dow has dropped over 30 percent since opening
at a high on February 12. This latest Dow drop is the worst since the infamous
Black Monday crash in 1987.
While
the Federal Reserve has cut rates toward zero in an effort to boost the
economy, the continuing closure of schools, restaurants, bars, movie theaters,
etc. across the country is affecting the market dramatically, and with no end
in sight to the coronavirus panic, it’s an unsure market for investors.
Confidence
in the markets was not helped by a Monday afternoon press conference in which
President Donald Trump said the federal government could be responding to the
coronavirus until “July or August,” possibly longer.
Precious
metals have also been sent into free fall, with gold dropping by 1.3 percent to
just over $1,500 an ounce. Silver, platinum, and palladium have seen even steeper
declines, each falling by over 12 percent on Monday.
Brent
and WTI crude tumbled by 9 and 11.3 percent respectively, taking a toll on
petrol giants including Chevron, BP, Royal Dutch Shell, and Suncor Energy, each
of which saw more than a 15-percent decline in stock price. Apache was among
the worst affected, down by over 30 percent.
Related
News:
Posts
a.jpg)
a.jpg)
No comments:
Post a Comment
Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.