Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Wall Street tumbles; NYSE to close its trading floor

    Xinhua | Updated: 2020-03-19 08:04
    Share
    Share - WeChat
    A trader reacts as he works on the floor of the New York Stock Exchange (NYSE) in New York, US, on March 18, 2020. [Photo/Agencies]

    NEW YORK - Wall Street sank in another volatile session on Wednesday with the Dow falling to a three-year low, while the New York Stock Exchange plans to close its trading floor in lower Manhattan and move to all-electronic trading beginning Monday after two people tested positive for COVID-19.

    The Dow Jones Industrial Average decreased 1,338.46 points, or 6.30 percent, to 19,898.92, marking its first close below 20,000 since February 2017. The 30-stock index cratered more than 2,300 points at session lows.

    The S&P 500 fell more than 5 percent to close at 2,398.10, its lowest level since December 2018. The broad index closed nearly 30 percent below a record set last month. The Nasdaq Composite Index pulled back 344.94 points, or 4.70 percent, to 6,989.84.

    The major averages wiped out most of the gains since US President Donald Trump's inauguration.

    All the 11 primary S&P 500 sectors ended lower, with energy down 14.28 percent, representing the worst-performing group.

    The energy sector was under pressure as worries over weaker demand coupled with price - war fears continued to weigh on the oil market.

    On Wednesday, the West Texas Intermediate for April delivery decreased 24.4 percent to settle at $20.37 a barrel on the New York Mercantile Exchange, marking its lowest level since Feb 20, 2002, according to Dow Jones Market Data.

    Brent crude for May delivery was down 13.4 percent, to close at $24.88 a barrel on the London ICE Futures Exchange, with prices ending at their lowest since May 2003.

    The S&P 500 tumbled 7 percent in the early afternoon, triggering a key circuit breaker that halted trading for 15 minutes. It was the second time this week that the circuit breaker had been tipped and the fourth time since last week.

    The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed to 76.45 on Wednesday.

    Wednesday's slide came despite increasing policy efforts to counter the virus impact as investors continue to await convincing evidence that the spread of the virus is being brought under control.

    "Uncertainty remains over whether current announced measures will prove sufficient or whether additional stimulus will be required. Further signs of virus containment across key developed markets could begin to lay the ground for a more sustained rally in risky assets," UBS Global Wealth Management's Chief Investment Officer Mark Haefele said in a note Wednesday.

    Meanwhile, the New York Stock Exchange (NYSE) said Wednesday it will temporarily close its trading floors and move to fully electronic trading due to the coronavirus outbreak.

    All-electronic trading will begin on March 23 at the open, the exchange said in a statement, adding the decision to temporarily close the trading floors represents a precautionary step to protect the health and well-being of employees and the floor community in response to COVID-19.

    The closure was in part as a result of positive coronavirus tests of two people, CNBC reported Wednesday, citing Cunningham.

    The US Senate on Wednesday passed a House bill to expand paid sick leave, enhance unemployment insurance, and ensure free testing in response to the COVID-19 outbreak.

    The House bill, which was passed early Saturday, includes measures to make sure that businesses with fewer than 500 employees offer two weeks of paid sick leave to their workers, enhance unemployment insurance, boost funding for food assistance programs, as well as ensure free testing.

    At a White House news briefing Tuesday, US Treasury Secretary Steven Mnuchin said he is working with lawmakers on a "significant" economic stimulus plan, which includes support measures for small businesses, airlines and hotels, as well as potential cash payments for working Americans.

    The Trump administration had proposed a total aid package of $850 billion, but discussions later included spending as much as $1.2 trillion, Bloomberg reported earlier, citing people familiar with the matter.

    Trump said on Monday the US economy "may be" heading toward a recession and that the COVID-19 outbreak could last for months.

    The number of COVID-19 cases in the United States had topped 7,000 by 1 pm local time Wednesday (1700 GMT), according to the Center for Systems Science and Engineering at Johns Hopkins University.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    无码人妻精品一区二区蜜桃AV| 免费a级毛片无码a∨免费软件 | 国产精品无码av在线播放| 日韩久久久久久中文人妻| 久久亚洲精品成人av无码网站| 日韩精品中文字幕第2页| 亚洲精品无码av天堂| 91精品久久久久久无码 | 日韩精品无码人妻一区二区三区 | 中文无码人妻有码人妻中文字幕| 亚洲国产精品无码久久久秋霞2| 最近中文字幕mv免费高清在线| 亚洲无码视频在线| 97精品人妻系列无码人妻| 亚洲AV永久无码精品成人| 精品亚洲成A人无码成A在线观看| 欧美激情中文字幕| 久久中文字幕人妻熟av女| 久久国产精品无码网站| yy111111电影院少妇影院无码| 性无码免费一区二区三区在线| 免费无码又爽又刺激网站直播 | 最新无码A∨在线观看| 一区二区三区在线观看中文字幕| 最近中文字幕高清中文字幕无| 国产中文欧美日韩在线 | 久久久这里有精品中文字幕| 亚洲中文字幕无码久久2020| 亚洲欧美日韩中文久久| 亚洲AV中文无码乱人伦在线观看| 亚洲精品中文字幕乱码三区| 日本精品久久久久中文字幕8 | 日日摸夜夜添无码AVA片| 国产高清中文欧美| 日本一区二区三区中文字幕 | 无码乱肉视频免费大全合集| 中文自拍日本综合| 亚洲中文字幕不卡无码| 日韩av无码中文字幕| 国产精品无码素人福利| 高清无码中文字幕在线观看视频|