US Stocks End Lower Amid Fast Spread of Coronavirus

New York: US stocks finished lower in choppy trading amid the fast spread of COVID-19 in the United States. Also Read – Remdesivir, a Potential Drug to Combat Coronavirus? Know Key Things About The Medication

On Tuesday, the Dow Jones Industrial Average fell 410.32 points, or 1.84 per cent, to 21,917.16. The S&P 500 slid 42.06 points, or 1.60 per cent, to 2,584.59. The Nasdaq Composite Index decreased 74.05 points, or 0.95 per cent, to 7,700.10, Xinhua news agency reported. Also Read – Coronavirus LIVE Updates: Had Warned Nizamuddin Markaz Members Earlier, Says Delhi Police; Releases Video

Ten of the 11 primary S&P 500 sectors closed lower, with utilities down 4.02 per cent, leading the laggards. Energy rose 1.63 per cent, the only gainer among the groups. Also Read – India Breathes Easy as 88 Cities Record Minimal Pollution Due to Coronavirus Lockdown

On the data front, US consumer confidence declined sharply due to a deterioration in the short-term outlook amid coronavirus uncertainty, New York-based The Conference Board reported on Tuesday.

The Conference Board Consumer Confidence Index came in at 120.0 in March, down from 132.6 in February.

The number of confirmed COVID-19 cases in the United States topped 180,000 Tuesday afternoon, according to data from Johns Hopkins University’s Center for Systems Science and Engineering.

US President Donald Trump on Sunday extended the national social distancing guidelines to April 30 amid warnings that the death toll from COVID-19 in the country might exceed 100,000.

The president on Friday signed a US $2 trillion stimulus bill, the largest stimulus package in US history, in an attempt to rescue the economy devastated by COVID-19.