Dow falls 700 points amid US GDP drop worries
The Dow Jones Industrial Average fell 700 points near the end of the trading day on Friday as predictions from Goldman Sachs suggested that economic growth in the United States will drop 24% in the second quarter. Volatility remained high amid coronavirus concerns as the Federal Reserve and other central banks announced a series of measures throughout the day to help liquidity.
The Dow remained under the 20,000-point mark as it dropped 3.43% at 3 pm ET. The Nasdaq 100 lost 2.47% at 3:01 am ET as Copart fell 12.87% at the same time. Meanwhile, the S&P 500 decreased 3.18% at 3:01 pm ET.
The euro was 0.31% lower against the dollar as it changed hands for 1.06577 at 3:02 pm ET.
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