Dow closes over 900 pts in red amid virus, GDP fears
US stocks finished the session on Friday following predictions from Goldman Sachs on economic growth in the United States dropping 24% in the second quarter. Dow Jones fell more than 900 points. Meanwhile, US Treasury Secretary Steven Mnuchin said the aid bill proposed by Senate Republicans should include direct payments to more individuals.
Also, the US Federal Reserve announced it agreed with Boston Fed to boost crucial state and municipal money markets liquidity through the Money Market Mutual Fund Liquidity Facility (MMLF).
The Dow Jones Industrial Average index declined by 4.55%, or 913 points at the close. 3M Co was the worst performer, plunging 9.18%. The Nasdaq 100 fell by 4.04% as the trading session ended. Copart dropped the most, 14.06%. The S&P 500 lost 4.34% at the closing bell as Flir Systems plummeted 18.69%.
The euro fell against the dollar by 0.11% to change hands at 1.0678 at 4:14 pm ET.
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