Stock market news, US stock market, March 16, 2020
“Dow drops 13%, Trump says recession possible, trading halted at open. The wave of selling continued on Monday as stocks cratered with the Dow dropping nearly 13% for its worst day since Black Monday, and its largest point drop in history. The S&P 500 also posted its worst day since Oct. 1987, while the Russell 2,000 and Nasdaq Composite turned in their worst days on record. The selling was sharp and fast. Minutes after the open stocks dropped more than 5% , triggering a “circuit breaker” and a 15 minute halt in trading. That set the tone for the day, with stocks ending the session right around their lowest levels as President Trump said the economy “may be” headed for a recession.” , Source: https://www.cnbc.com/2020/03/16/stock-market-today-live.html
How stock market, US stocks closed on Monday, March 16, 2020-Financial and business news
“The Dow Jones Industrial Average plunged nearly 3,000 points Monday with selling pressure accelerating into the close as Trump gave the nation an update on the coronavirus. “The President’s press conference where he said this virus could cause disruption into August was longer than many anticipated. ” Source: https://finance.yahoo.com/news/the-dow-just-crashed-3000-points-here-is-why-it-happened-203917420.html
- S&P 500: 2,386.13,-324.89(-11.98%)
- Dow 30: 20,188.52,-2,997.10(-12.93%)
- Nasdaq: 6,904.59,-970.28(-12.32%)
- Russell 2000: 1,037.42,-172.72(-14.27%)
10-Yr Bond: 0.7280,-0.2230(-23.45%)
Vix: 82.69, +24.86(+42.99%)
Stocks biggest gainers
BioNTech SE (BNTX) was among stocks biggest gainers with a stock price at close of 40.00+9.07 (+29.32%).
Stocks biggest losers
Gaming and Leisure Properties, Inc. (GLPI) was among stocks biggest losers with a stock price at close of 19.55-13.64 (-41.10%).
Stock investing | Stock trading | Most active stocks
General Electric Company (GE) was among most active stocks with a stock price at close of 6.66-1.19 (-15.16%).
U.S. Sectors & Industries Performance
All sectors closed lower. Consumer Staples was the best performing sector -6.99%, Real Estate was the worst performing sector -16.55%
Economic news today, March 17, 2020
The focus today will be on February’s retail sales figures for the US economy. Other notable economic releases scheduled for Tuesday include Industrial production MoM, Capacity utilization, JOLTS job openings, NAHB Housing Market Index.
Notable stock earnings today include FedEx Corporation (FDX).
Stock market update
All data about stock market, stocks , stock investing, stock trading is taken from Yahoo Finance, Fidelity, and stockcharts.com.
This report is written by Stavros Georgiadis, CFA , Equity Research Analyst, Investment Strategist.
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