Wall Street sinks amid oil collapse and gloomy company forecasts; Dow closes down 2.7% and S&P 500 falls 3.1%
The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri
With the collapse spilling into June futures contracts, equity investors became wary of the extent of the economic damage from sweeping lockdown measures that have halted business activity and sparked millions of layoffs. [O/R] “When are countries and states going to reopen their economies, and what does that even mean? I’d expect us to see choppy days like this until we get some visibility and figure this out, but that’s going to be a while,” warned Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
Coca-Cola Co provided the latest evidence of the damage wrought by the global health crisis, saying its current-quarter results would take a severe hit from low demand for its soft drinks.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's what every major Wall Street analyst is predicting for Netflix earnings after the bellNew for subscribers: Here's what every major Wall Street analyst is predicting for Netflix earnings after the bell Check out CNBCPro for a free trial.
Read more »
Wall Street retreats as crude slump batters energy stocksA slide in energy stocks weighed on Wall Street on Monday as crude prices crashed at the start of a week packed with quarterly earnings reports and economic data likely to underline the damage from the coronavirus outbreak.
Read more »
Wall Street Has High Hopes For Netflix's Latest Earnings ReportNetflix’s stock has risen more than 30 percent year-to-date, driven as of late by Wall Street expectations that the global streaming giant would turn out to be one of the rare beneficiaries of the coronavirus pandemic and governments’ stay-at-home orders
Read more »
Disney Parks May Not See A Full Recovery Until Coronavirus Vaccine, Shares Drop 3% On Wall Street DowngradesDisney’s theme parks could take 18-24 months to achieve pre-pandemic attendance levels, the company's shares have dropped 3% on Wall Street downgrades
Read more »
Stocks Following a Decline in Oil Prices, Shake Shack Returns Government Loan, The Plan for Las Vegas by Squawk on the Street
Read more »