Wall Street's main indexes were lower in choppy trading on Thursday, as renewed worries about Sino-U.S. trade relations added to fears of an extended economic downturn due to the virus outbreak.
- Wall Street’s main indexes were lower in choppy trading on Thursday, as renewed worries about Sino-U.S. trade relations added to fears of an extended economic downturn due to the virus outbreak.
This further rattled markets after Federal Reserve Chairman Jerome Powell’s somber outlook on the economy and U.S. infectious disease expert Anthony Fauci’s warning that the virus was not yet under control. Market participants said a rally in bank stocks helped Wall Street indexes come off intraday lows. Wells Fargo & Co surged 6.1% as it bounced back from 11-year lows.
The focus now turns to retail sales data on Friday that will show the impact of stay-at-home orders on the U.S. consumer in April.
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