Pandemic fears have wiped out $3.4 trillion from the S&P 500 in just six trading days. And more losses are in store on Friday. US stocks are on pace for their worst week since the 2008 financial crisis.
It took the S&P 500 just six trading days to go from record highs to a correction. That's the fastest such swing in more than 70 years, according to Howard Silverblatt of S&P Dow Jones Indices.Pandemic fears have wiped out $3.4 trillion from the S&P 500 over that span. And more losses are in store on Friday. US stocks are on pace for their worst week since the 2008 financial crisis.
Wall Street is now bracing for weaker corporate profits ahead because of the coronavirus. Goldman Sachs warned that 2020 S&P 500 earnings growth could be wiped out by the damage done to supply chains and demand. That suggests the selling may not be done just yet. RBC Capital Markets said the S&P 500 could tumble to a range of 2,700 points and 2,900 points, equaling a total loss of 14% to 20% from its record highs.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Bloomberg spends record $3.5M on ads in black media“My question is simple: Where are the rest of the presidential candidates and their ads in the black press?”
Les mer »
The new burger chef makes $3 an hour and never goes home. (It's a robot)Robotic arms like Flippy from Miso Robotics are getting cheap enough to make financial sense for low-wage work. But there's an argument in the industry.
Les mer »
The Week That Wiped $3.4 Trillion Off the Stock MarketU.S. stocks were at record levels just last week, seemingly unaffected by fears that the coronavirus could dent the global economy. Then reality took hold.
Les mer »
Asian stocks slide deeper as pandemic fears growRising fears of a pandemic, which US health authorities have warned is likely, had already wiped more than $3.6 trillion from global stock markets by Wednesday's close.
Les mer »
Global stock markets have lost $6 trillion in value in six daysThe coronavirus-driven market sell-off has wiped $6 trillion in value from the global markets in the past six days, according to S&P Dow Jones Indices.
Les mer »
Coronavirus Wipes $5 Trillion Off Global Stocks As It Spreads To New CountriesMarkets across the globe are seeing their worst week since the financial crash in 2008 amid fears that Covid-19 could become a global pandemic.
Les mer »