πŸ‡ΊπŸ‡Έ

Dow plunges 1861 points

Video Credit: Reuters Studio
Published on June 11, 2020 - Duration: 01:22s

Dow plunges 1861 points

Wall Street plummeted Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve.

Fred Katayama reports on the market action.

Advertisement

Dow plunges 1861 points

A broad massive sell-off slammed Wall Street Thursday.

The Dow nose-dived, plummeting more than 1800 points.

Fears of a possible second wave of coronavirus infections coupled with the Fed's grim economic forecast had investors running for the exits.

June's leaders - energy and financials - were the biggest decliners.

The major indexes wiped out this month's gains and posted their biggest one-day decline in nearly three months.

The blue-chip index shed nearly 7% Thursday and the broader index plunged almost 6%.

Nasdaq lost more than 5%.

National Securities' chief market strategist Art Hogan: "Today, everything went south, and once it started heading south, people were like, 'You were right.

This has been overdone.

We all know that.

Let's get out of the way.'" Interest-sensitive bank shares fell.

Fed policymakers said Wednesday they see key interest rates remaining near zero through at least 2022.

Boeing shares got hit with a wave of sell orders.

Its top supplier, Spirit AeroSystems, said it's laying off those working on Boeing 737 components for 21 days.

But investors were hungry for Grubhub.

Shares of the online food delivery firm jumped after it agreed to sell itself to Just Eat Takeaway for $7.3 billion.

You are here


πŸ’‘ One News Page Knowledge: Other News Mentions




Nasdaq

American stock exchange
Deadly shooting at Pearl Harbor naval shipyard; ViacomCBS rings NASDAQ opening bell
Credit: CBS News - Published 1 day ago




Related news from verified sources

Dow Jones Industrial Average plunges 1,862 points, worst day since start of shutdown amid new fed warning and concerns of Covid-19 pandemic resurgence
on June 11, 2020 • Mediaite

Analysts are still optimistic about Apple, and Disney faces the prospect of a surge in coronavirus cases as it tries to reopen its parks.
on June 11, 2020 • Motley Fool

Related videos from verified sources

Think Positive: Despite Pandemic, Civil Unrest, Dow Jumps 268 Points 00:34
Video credit: Wochit Tech - Published on June 3, 2020 

You might like