Dow cheaper in anticipation of gloomy reporting and concerns over coronavirus

US, WASHINGTON (ORDO NEWS) — The Dow Jones Index is dropping on Thursday after recently rising amid concerns about bleak reporting for the first quarter and long-term economic damage from the coronavirus pandemic, overshadowing better-than-expected jobless claims.

This week, Wall Street ranged between hoping for a peak in the coronavirus epidemic and fears of the largest economic downturn since the Great Depression, as quarantine measures led to reduced consumer spending and business activity.

“We are still trying to understand how much worse the situation is compared to the current one,” said Andrew Smith, investment director at Delos Capital Advisors.

“There are fewer applications for unemployment benefits than economists had expected, but it is too early to extrapolate their number to the forecast“ everything is clear ahead. ”

By 18:44 UTC, the Dow Jones Industrial Average index fell 0.28% to 23.438.79, while the S&P 500 increased by 0.54% 2798.39. Nasdaq Composite grew 1.75% to 8.539.67.


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