The stock market stumbled today but ended the week down only 2.6%—despite a slew of worsening economic data, such as record unemployment claims, and ongoing coronavirus volatility continuing to stoke fears on Wall Street by skleb1234
... [+]The stock market stumbled on Friday, but ended the week down only 2.6%—despite a slew of worsening economic data, such as record unemployment claims, and ongoing coronavirus volatility continuing to stoke fears on Wall Street.
The Dow Jones industrial average lost 1.7%, nearly 400 points, on Friday, while the S&P 500 fell 1.5% and the Nasdaq Composite 1.5%. Overall, stocks posted their third weekly decline in the last four weeks: The Dow was down 3.1% for the week, while the S&P and Nasdaq dropped 2.6% and 2.8%, respectively.
The number of global coronavirus cases surpassed a million this week—with more than 261,000 cases in the U.S., which has added to anxiety on Wall Street as economic data begins to reflect the financial fallout from the pandemic.to a staggering 6.6 million—the highest level ever recorded. Some 10% of Americans have now filed for first-time unemployment in the last two weeks alone, data shows.
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