Dow slumps 5per cent on fears of spurt in virus infections, economic worries


U.S. stocks deepened losses on Thursday, with the Dow on track for its biggest single day percentage fall since March 18, on fears of a resurgence in coronavirus infections and a gloomy economic forecast from the Federal Reserve.

The spread of the coronavirus disease (COVID-19) in New York

Traders wear masks as they work on the floor of the New York Stock Exchange in response to the outbreak of the coronavirus disease (COVID19) in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson

REUTERS: U.S. stocks deepened losses on Thursday, with the Dow on track for its biggest single day percentage fall since March 18, on fears of a resurgence in coronavirus infections and a gloomy economic forecast from the Federal Reserve.

At 12:25 a.m. ET, the Dow Jones Industrial Average was down 1,355.81 points, or 5.02per cent, at 25,634.18, the S&P 500 was down 135.13 points, or 4.24per cent, at 3,055.01. The Nasdaq Composite was down 343.77 points, or 3.43per cent, at 9,676.58.

(Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva)



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