U.S retail sales and factory output registered the huge drawback on record in April amid novel coronavirus pandemic . This new data illustrating a recession that it will likely takes years to fully recovery. US Retail Salas data declined significantly and it’s indicating how Wuhan virus is curtailing consumer spending , which is the main driver of the U.S economy .
The Dow Jones Industrial Average fell yet again Wednesday Morning after staging short covering rally a day earlier. Just on Monday , the stock market had its worse drop since 2008 amid fears that the growing coronavirus epidemic would push the global economy into recession . Today, in early morning trade , DJIA down 1005 points (4.02%) . The S$P 500 and the NASDAQ were down more than 3.5% .
The Dow Jones Industrial Average plummeted more than 900 points on Friday, as financial markets continue to plummet on uncertainty over the spread of the novel coronavirus. Concerns about the spread of the disease and a global financial slowdown are driving deep dips in the stock market. The Dow suffered its worst week since the financial crash of 2008.
Worst Asian stock exchanges week since 2008 rescission. Global stock barometer has tumbled 10 percent this week due to massive covid-19 coronavirus fears . European and Asian equities faced a fresh bout of selling on the final trading day of the week. MSCI’s Asia Pacific index dropped 2.6 per cent , while the sroxx Europe 600 fell 3.3 per cent, and FTSE 100 dropped by 3 per cent.S&P futures suggested Wall Street Benchmark index would decline 1.2 per cent in opening trade.
Commodity Price Alert . Gold Price slightly rose today due to massive coronavirus outbreak in China. Spot gold rose 0.4 percent to $1,568.95 per ounce, after having fallen to a more than two-week low of $1,546.90 in the previous session. U.S. gold futures were also up 0.4 percent at $1,568.75.
