Stocks drop as virus shutdown hits economy, bank earnings

[Yo_Mama_Been_Loggin]

Stocks fell Wednesday as dismal economic data and weak bank earnings fueled concerns over the coronavirus’ impact on the U.S. economy.

The Dow was down more than 500 points, or 2.1%. The S&P 500 slid 2.3%, while the Nasdaq traded 1.5% lower.

Bank of America traded more than 5% lower on the back of disappointing earnings. Goldman Sachs and Citigroup both fell more than 4%. Energy and financials were the worst-performing sectors in the S&P 500, dropping more thna 4% each.

Retail sales during the month of March plunged a record 8.7%, according to a report from the Commerce Department published Wednesday. That was the largest one-month decline since the department began tracking the series in 1992.

https://www.msn.com/en-us/money/markets/stocks-drop-as-virus-shutdown-hits-economy-bank-earnings/ar-BB12gIs5

Tired of winning yet?

[ProfessorGAC]

1. Still Down 2.16% At 1:40EDT

Rose a bit, gradually for a couple hours but turned south about a half hour ago.

[empedocles]

2. Perhaps more ominous is gold down over $27 and silver almost 4% down.

[Pro's selling to fox buyers?]