Dow loses over 800 pts premarket after jobs report
The Dow extended losses closer to the start of the session on Wednesday as ADP and Moody’s Analytics said that employers in the United States have cut 27,000 jobs in early March, as the coronavirus epidemic started affecting the economy.
Meanwhile, reports alleged that the White House hasn’t even started discussions on the next stimulus package and is focused only on implementing the one adopted last week, which failed to appease the markets.
The Dow Jones Industrial Average index sank 803 points at 8:33 am ET, or 3.66%.
The Nasdaq 100 was down 3.04% at the same time, while the S&P 500 declined 3.63% one minute later.
The euro fell 0.96% against the dollar at 8:35 am ET, going for $1.09255.
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