Wall St. retreats from record highs on mixed coronavirus reports, downbeat earnings



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Wall St. retreats from record highs on mixed coronavirus reports, downbeat earnings

On Thursday, the 13th of February 2020, despite a strong opening of the day, all three key indices of Wall St. had botched to maintain the momentum and backed away from record closing highs as investors appeared to be highly cautious over recent development of coronavirus outbreak in China, while a mixed bag of corporate earnings’ alongside a nearly 10 per cent nose-dive of Kraft Heinz had casted away optimisms further.

In point of fact, Thursday’s (February 13th) tottering in the Wall St. was almost entirely galvanized by a mixed report on coronavirus developments, since Thursday (February 13th) had witnessed an addition of 242 in to coronavirus death tallies, raising the epidemic’s death toll to 1,367, but contradicting the statistics, director of WHO (World Health Organization), Dr.

Tedros Adhanom Ghebreyesus was quoted saying in a news briefing on Thursday (February 13th), “we are not seeing dramatic increases in cases outside China,” adding there were still gleams of hopes. Meanwhile, referring to investors’ uncertainties over mixed reports on coronavirus developments, a senior market strategist for Allianz Investment Management in Minneapolis, Charlie Ripley said on Thursday’s (February 13th) Wall St.

wrap up, “On a day like today investors just have to take it in stride. There’s headlines going back and forth ... but investors are realizing this is a first quarter event and the uncertainties are likely to wane.

” Quoting statistics, on Thursday’s (February 13th) Wall St. closure, Dow fell by 0.43 per cent to 29,423.31, benchmark S&P 500 soured 0.16 per cent to 3,373.94, while the tech-heavy Nasdaq shed 0.14 per cent to wind down Thursday’s (February 13th) Wall St. at 9,711.97.