Headline Roundup • March 18th, 2020
Stocks Continue Volatility Amid Coronavirus Uncertainty
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Yahoo News
Stocks were bludgeoned in yet another volatile session on Wednesday, sinking to a three year low with worldwide cases of the coronavirus soaring above 200,000, amid panic selling that nearly wiped out all of the gains made since President Donald Trump was inaugurated on Jan. 20, 2017.
The ongoing COVID-19 crisis has forced governments around the world to consider stimulus measures and imposing stiff restrictions to prevent further spreading. However, the economic fallout is already being felt, with several indicators deteriorating sharply, and Wall Street predicting a recession this year.
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MarketWatch
U.S. stocks fell sharply again on Wednesday as investors grappled with a flood of plans by governments to limit the economic blow of the COVID-19 outbreak and debated whether the measures will be enough to limit the economic blow.
The S&P 500 index tumbled about 6.3%, while Treasuries looked to extend their biggest yield jump since 2008 on Tuesday as markets braced for a flood of government borrowing. Crude oil prices dropped to an 18-year low and the U.S. dollar rose for a seventh straight day.
Stocks, bonds and commodities fell Wednesday in a simultaneous selloff that suggests investors are seeking to raise cash quickly to cope with the economic disruption sparked by the coronavirus pandemic.
The Dow Jones Industrial Average fell 1,420 points, or 6.7%, to 19818 in midday trading. The S&P 500 dropped 5.8% and the Nasdaq Composite declined 4.6%. All three indexes are down about 30% from their mid-February highs.
Oil, meanwhile, plunged 15% to its lowest level in more than 18 years.
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