Dow erases 900 point gain following worst day since financial crisis

Dow poised to open higher after worst day since financial crisis

[ad_1]

U.S. stocks gave up early gains Tuesday, a day after crude suffered a historic rout while the broader stock market recorded its worst day since the financial crisis. 

The Dow Jones industrial average was virtually flat, after initially jumping more than 900 points after the opening bell. The blue-chip average plunged more than 2,000 points on Monday. A free fall in oil prices and mounting coronavirus cases rattled jittery investors a day earlier and pushed major indexes to the edge of a bear market, or a drop of 20% from a recent peak. 

The Standard & Poor’s 500 was up less than 0.1% Tuesday after jumping more than 3%. On Monday, the broad index posted its worst one-day percentage drop since October 2008. The index is off about 19% from its Feb. 19 record. 

Dizzying swings have been relentless in markets the last few weeks. Stocks had a couple days last week where they rose more than 4%, only for the bottom to give out again.

[ad_2]

Source link

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.