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Stock Market Drops 6%, Rally Not Sustainable As Coronavirus Cases Rise
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deadline.comBy Jill Goldsmith Despite a range of economic measures for well over $1 trillion proposed Tuesday by the Trump administration, the Dow Jones futures had plunged in Wednesday’s pre-market session, along with S&P 500 futures and Nasdaq futures, hitting the “limit down” circuit breaker, dashing hopes raised by Tuesday’s 5.2% gain in the DJIA.
At opening, the index fell 6% or about 1,200 points as momentary optimism was crushed by the relentless march of the virus across the country and the world.
The number of infections doubled internationally over the last two weeks, continuing to fuel fears of a global recession. The death toll in the U.S.
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