US Federal Reserve concerned about possible second wave; global cases near 7.5m; Russia infections pass half a million; Follow the latest updates
- DOW closes down almost 7%
- Arizona sees alarming surge of over 1,000 new coronavirus cases daily
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Stocks fell sharply Thursday on Wall Street as coronavirus cases in the US increased again, deflating recent optimism for a quick economic recovery and raising more doubts about how long the market’s scorching comeback can last, AP reports.
The Dow Jones Industrial Average sank more than 1,800 points, almost 7%, and the S&P 500 dropped 5.9%, its worst day since mid-March, when stocks went through repeated harrowing falls as the virus lockdowns began. The S&P 500 rallied 44.5% between late March and Monday, erasing most of its losses tied to the pandemic.
Hello and welcome to today’s live coverage of the coronavirus pandemic.
I’m Helen Sullivan and I’ll be taking you through the latest news from around the world for the next few hours. Please do get in touch with questions, comments, news and tips on Twitter @helenrsullivan or via email: helen.sullivan@theguardian.com.
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