Wall St. plunges the most in a week since 2008 as New York, CA impose restrictions


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Wall St. plunges the most in a week since 2008 as New York, CA impose restrictions

On Friday, the 20th of March 2020, all three key indices of Wall St. had recorded their worst weekly decline since October 2008, while both S&P 500 alongside trade-sensitive Dow Jones dwindled as much as 4 per cent following stiffer restrictions in New York and California aimed at slowing down the spread of highly contagious Coronavirus pandemic.

Nonetheless, followed by Friday’s (March 20th) market round off, several analysts were quoted saying that the Friday’s downward slide in the Wall St. despite major Central Banks’ pledge to further monetary stimulus was almost entirely driven by a usual week-end sell-offs, widely experienced during geopolitical hobbles.

Meanwhile, adding that the news of a stiffer lockdown in the US states of New York and California had added to investors’ worries further, an investment strategist at Robert W. Baird in Milwaukee said on Friday (March 20th), “The equity markets are still trying to get a handle on how bad the economy is going to be, and I think news of entire states being closed probably qualifies as incrementally negative.

a lot of economic activity and a lot of businesses. ” Citing statistics, on Friday’s (March 20th) market round off, the trade-sensitive Dow fell as much as 4.55 per cent to 19,173.98, S&P 500 plunged 4.34 per cent to 2,304.92, while the tech-heavy Nasdaq was nudged 3.79 per cent lower to 6,879.52 on Friday’s (March 20th) market wind down.