Stock market closes down after news of the impact of COVID-19

Stock prices closed at a loss Thursday on the New York Stock Exchange after more bad news was revealed that revealed the serious economic damage caused by the outbreak of the new coronavirus.

The S&P Index; 500 lost 0.9%, but still rose 12.7% in April, representing its highest monthly gain since 1987.

The month-long increase came as the Federal Reserve and the United States Congress announced aggressive measures to help the economy resist the consequences of widespread business closings and stay-at-home decrees that were implemented to combat the pandemic.

An additional 3.8 million people applied for unemployment benefits last week, and the European economy contracted by a record 3.8% in the first three months of the year.

Written by Argentina News

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