Stock Market Declines on Wednesday
As investors became more rattled and concerned over the coronavirus, the Dow Jones Industrial average dropped more than 700 points on Wednesday. The S&P 500 fell almost 81 points, and NASDAQ slid over 222 points downward. Wednesday’s sell-off was one of the largest amid economic fears over the impact of the virus since the spread began in the U.S. in March. Industries hard hit include travel, real estate, industrial and energy – which fell into the red as Florida, Texas, Arizona and California reported spikes in virus cases this week, impeding original plans of reopening economies. Stockholders may need to reassess their investments if corporate profits fail to recover amid potential further economic shut-downs. Wall Street investors also reacted to newly instated travel restrictions to the north east, imposed by the governors of New York, New Jersey and Connecticut – who are requiring any visitors from out of state to self-quarantine for 14 days.
Doug Garfinkel has been a writer for over 30 years, working on a wide variety of websites and publications. He currently works as a High School teacher in Great Neck, NY, while continuing to write.