Markets close out dismal week
by Lynde Langdon
Posted 3/20/20, 06:40 pm
Stocks sank lower and the price of oil tanked Friday as the coronavirus outbreak shut down entire sectors of the U.S. economy. The Dow Jones Industrial Average slid more than 900 points, ending the week with a 17.3 percent loss. The index has declined in four of the last five weeks.
What should we expect next week? The road ahead looks rough for markets as investors get a better look at the economic fallout from business closures and layoffs next week. Still, hopes remain that “a boatload of stimulus by both central banks and governments will put the global economy in position for a U-shaped recovery” once the outbreak subsides, said Edward Moya of Oanda in a report.
Dig deeper: Read Leah Hickman’s latest report on creative ways communities are helping each other during the pandemic.
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