Latest Stock market News:- The Dow resumed its move toward session lows on Monday as investors weighed the newest efforts to combat the coronavirus pandemic against hopes the economy could reopen sooner instead of later. mini invest
The Dow Jones Industrial Average slumped 2.2%, the S&P 500 lost 2%, while the Nasdaq Composite slumped 0.8%.
Stoking hopes that some parts of the U.S. under lockdown may soon snap back to operation, President Donald Trump said during a tweet Monday that the choice to restart the economy would be made "shortly".
The tweet came as U.S. deaths from the coronavirus pandemic topped 20,000, surpassing that of Italy, which had been the epicenter of the worldwide outbreak.
But in ny state, there have been growing signs that lockdown measures, including social distance, are flattening the curve of infections.
Intensive care unit admissions and therefore the three-day hospitalization average still drop, consistent with ny Governor Andrew Cuomo.
The governor also said he wants to reopen nonessential businesses and public places "as soon as possible," but stressed any reopening measures would require careful examination as any action taken hurriedly risked another wave of infections.
Energy stocks, meanwhile, were pressured by a fall from session highs in oil prices as investors shrugged off coordinated boring cuts from major producers because the 10 million barrel per day cut agreement won't offset the coronavirus-led loss of demand of around 20 million BPD.
In industrials, Caterpillar (NYSE: CAT) fell about 9% after Bank of America downgraded the stock to underperform from neutral on worries the hit to the energy and mining sectors from the coronavirus would hurt the heavy-equipment maker's results.
Financials also pressured the broader market, paced by a decline in banking stocks before key earnings in the week.
JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) get the first-quarter earnings season underway in earnings with results on Tuesday
Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) report on Wednesday, with Morgan Stanley (NYSE:MS) expected to report later in the week.
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| Latest Stock market News of U.S.:- The Dow resumed its move towards the low. |
The Dow Jones Industrial Average slumped 2.2%, the S&P 500 lost 2%, while the Nasdaq Composite slumped 0.8%.
Stoking hopes that some parts of the U.S. under lockdown may soon snap back to operation, President Donald Trump said during a tweet Monday that the choice to restart the economy would be made "shortly".
The tweet came as U.S. deaths from the coronavirus pandemic topped 20,000, surpassing that of Italy, which had been the epicenter of the worldwide outbreak.
But in ny state, there have been growing signs that lockdown measures, including social distance, are flattening the curve of infections.
Intensive care unit admissions and therefore the three-day hospitalization average still drop, consistent with ny Governor Andrew Cuomo.
The governor also said he wants to reopen nonessential businesses and public places "as soon as possible," but stressed any reopening measures would require careful examination as any action taken hurriedly risked another wave of infections.
Energy stocks, meanwhile, were pressured by a fall from session highs in oil prices as investors shrugged off coordinated boring cuts from major producers because the 10 million barrel per day cut agreement won't offset the coronavirus-led loss of demand of around 20 million BPD.
In industrials, Caterpillar (NYSE: CAT) fell about 9% after Bank of America downgraded the stock to underperform from neutral on worries the hit to the energy and mining sectors from the coronavirus would hurt the heavy-equipment maker's results.
Financials also pressured the broader market, paced by a decline in banking stocks before key earnings in the week.
JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) get the first-quarter earnings season underway in earnings with results on Tuesday
Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) report on Wednesday, with Morgan Stanley (NYSE:MS) expected to report later in the week.
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