Wall Street deflates 3.5% despite US measures to combat the coronavirus

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Wall Street deflates 3.5% despite US measures to combat the coronavirus





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The coronavirus has once again taken its toll on Wall street. Although the United States Congress approved this Wednesday to allocate 8.3 billion dollars to curb the advance of Covid-19 and to combat its effects, the main indices of the New York Stock Exchange have once again reflected the restlessness that exists among investors regarding the economic effects that this epidemic can have.

The Dow jones 3.5% has been left this Thursday, up to 26,121 points, and has erased part of the gains that were scored yesterday. United Technologies (-9%), Boeing (-8.1%) and JPMorgan Chase (-4.8%) have led the falls in a selective in which only Walgreens falls (+ 0.1%).

The S&P 500 3.39% have been deflated, up to 3,023 points, while the falls of the Nasdaq They have stood at 3.1%, leaving the technology selective at 8,738 points.

In spite of interest rate cut announced by the Federal Reserve last Tuesday and to the endowment approved by Congress to combat the coronavirus far exceeds 2,500 million claimed by President Donald Trump, both measures seem insufficient to reduce the concern that exists in the market for the collapse that the demand may suffer in the face of this epidemic.

The drop in consumption is already noticeable in the sector of airlines, whose companies have been forced to suspend many routes and cut their business forecasts. Values ​​such as United Airlines (-13.2%), American Airlines (-13.4%), Jetblue (-10.8%), Delta (-7.2%) or Southwest Airlines (-3.5%) have ranked among the most penalized of the day in US equities.

Another factor that has increased nervousness among investors has been the statement by California of state of emergency. Its governor, Gavin Newsoom, has made this decision as soon as the first death is confirmed because of the Covid-19 outbreak.

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