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Here is what occurred to the inventory market on Wednesday

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President Donald Trump speaks on the every day coronavirus briefing joined by Vice President Mike Pence within the James Brady Press Briefing Room on the White Home on March 22, 2020 in Washington, DC.

Tasos Katopodis | Getty Photographs

Dow Jones Industrial Common drops 973 factors

The Dow slid 973.65 factors, or 4.44%, to shut at 20,943.51. The S&P 500 closed 4.41% decrease at 2,470.50. The Nasdaq Composite dropped 4.41% to 7,360.58. Shares fell sharply on the primary day of the brand new quarter amid mounting considerations over the coronavirus and its well being and financial ramifications.

‘Painful’ weeks forward

President Donald Trump stated Tuesday evening the U.S. ought to put together for a “very, very painful two weeks” as extra instances are reported. White Home officers are projecting between 100,000 and 240,000 virus deaths within the U.S. In the meantime, New York Gov. Andrew Cuomo stated the state’s fashions are exhibiting a excessive loss of life charge by means of July. “There’s nonetheless large uncertainty,” stated Patrick Kaser, portfolio supervisor at Brandywine World. “We will have a look at historical past as a guidepost for the market and the financial system, however there’s not an ideal state of affairs.”

American Categorical leads Dow decrease, cruise shares fall

What occurs subsequent?

The weekly jobless claims report is scheduled for launch Thursday at 8:30 a.m. Walgreens Boots Alliance is slated to launch its newest quarterly figures earlier than the bell.

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