U.S. stocks once again hit the Dow's tail, down more than 4%

world economy

Written by: Zhang Zijie

2020-03-06 05:02

The opening of the U.S. stock market on March 5 failed to continue the rise of the previous trading day. Due to the spread of new pneumonia in the United States and the aviation industry's warning of huge losses this year, the three major indexes developed downward throughout the day. Duan had plunged more than four percent.

After Wall Street's rally, the performance on the 5th was severely dragged down by the epidemic. (Reuters)

U.S. stocks benefited from the good performance of former Vice President Joe Biden in the "Super Tuesday" Democratic primary election, but the threat of new pneumonia continued to affect market sentiment and fell immediately after the market opened on the 5th.

British low-cost airline Flybe announced its takeover, Southwest Airlines issued a profit warning, United Airlines cuts flights, and the International Air Transport Association (IATA) predicts that the global aviation industry may lose $ 113 billion in 2020, becoming the main factor in the market decline. S & P Aviation shares fell 8.1%.

And there are worries that there will be another outbreak of cruises. Cruise stocks such as Royal Caribbean Cruises and Carnival Corp have fallen by more than 10%.

The Dow closed at 26121.69 points, down 969.17 points, or a decline of 3.58%.

The Nasdaq was at 8738.60 points, down 279.49 points, or 3.1%.

The S & P 500 index was at 3024.14 points, down 105.98 points, or 3.39 points.

Carol Schleif, deputy chief investment officer of Wells Fargo's top wealth management business, Abbot Downing, described the current stock market as clearly affected by sentiment.

European stock markets closed down across the board. The British FTSE 100 index closed at 6715.34 points, down 100.25 points, or 1.47%. The German DAX index was reported at 11963.02 points, down 164.67 points, or a decrease of 1.36%. The French CAC index was at 5361.10 points, down 103.79 points, or 1.9%.

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