The S&P 500 fell 12% today. Here's what five experts say could be next for the market:
"The markets are getting no break with yesterday's historic Fed actions and COVID-19 dominating the world's headlines," Frank Cappelleri, executive director at Instinet, said in a note. "While the news continues to worsen and with the price action doing things we've only seen a handful of other times in the last century, it's nearly impossible to keep things in perspective.
The major averages fell to their lows into the close after President Donald Trump said the worst of the outbreak could last until August. He also told reporters the U.S. "may be" heading into a recession. The Dow's drop was the worst decline since its "Black Monday" crash three decades ago when it fell more than 22%. The drop surpassed its 9.99% tumble last Thursday. It was also the Dow's third-worst day ever; it dropped more than 13% in late 1929.
While the central bank's actions may help ease the functioning of markets, many investors said they would ultimately want to see coronavirus cases peaking and falling in the U.S. before it was safe to take on risk and buy equities again.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Stock market live updates: Stocks re-open after halt, Dow drops 2,700, S&P tanks 11%A conversation about the latest market news, including the massive sell-off in stocks and a giant monetary stimulus package from the Fed.
Les mer »
Dow Plunges 2,700 Points, Trading Halted After Fed Slashes RatesMarkets are falling sharply after the Federal Reserve aggressively cut interest rates to near zero. The Dow tumbled more than 2,700 points — nearly 12% — as coronavirus measures expanded.
Les mer »
Dow futures plunge 1,000 points after Fed cuts interest rate to zeroInvestors were unassuaged by news that the Federal Reserve is cutting interest rates to zero. US stock futures dropped 5% Sunday evening, hitting the 'limit down,' meaning they can't fall any further.
Les mer »
Dow Plunges Over 2,000 Points, Trading Halted Despite Emergency MeasuresMarkets are falling sharply after the Federal Reserve aggressively cut interest rates to near zero. Earlier, the Dow tumbled more than 2,700 points — nearly 12% — as coronavirus measures expanded.
Les mer »
Stock market news today: Dow sinks as Fed actions fail to calm nerves - Business InsiderUS stock trading was halted within minutes after sharp selling at the open. Sharp losses persisted after trading resumed.
Les mer »
Dow falls 2,200 points, trading halted, as rate cut fails to calm marketsBREAKING: Dow falls 2,200+ points at Monday open as rate cut fails to calm markets amid global coronavirus concerns.
Les mer »