Wall Street drops 700 points on fears of surging coronavirus cases and dire IMF forecasts – By Oliver O’Connell (The Independent) / June 24 2020
California, Florida and Texas all report record numbers of daily cases, as IMF predicts US growth to plummet 8% in 2020
The Dow Jones Industrial Average fell more than 700 points on Wednesday after the International Monetary Fund published a gloomy forecast for the global economy, and cases of Covid-19 surged in the US and around the world.
The 2.7 per cent drop by the Dow was mirrored by 2.6 per cent and 2.2 per cent falls in the S&P 500 and Nasdaq, respectively.
California reported a staggering 7,149 new cases on Wednesday, according to data from the state Department of Public Health. This broke the previous record, set the day before, of more than 5,000.
Earlier in the day, Florida reported its highest one-day increase in cases of the coronavirus to date with 5,508 positive tests — the previous record was 4,049.
Continue to article: https://www.independent.co.uk/news/world/americas/stock-market-coronavirus-wall-street-dow-jones-imf-a9584326.html
