NEW YORK (dpa-AFX) – The strong recovery in the US stock market after the sharp downturn stopped on Friday. Investors preferred to play it safe before the weekend given the enormous uncertainty surrounding the corona crisis. Ultimately, the US leading index was unable to keep above the 22,000 point mark, which the Dow Jones Industrial (Dow Jones 30 Industrial) regained at times. At the same time, economic data had little influence on trading.
The Dow ended the day with a discount of 4.06 percent to 21,636.78 points. On a weekly basis, this still means an increase of just under 13 percent, the largest since 1938. However, this is put into perspective, because on Monday the world’s best-known stock market barometer temporarily dropped towards 18 200 points to its lowest level since the end of 2016. The pronounced ascent and descent evokes memories of the financial market crisis: the Dow had last year at just over 11 percent, a double-digit percentage increase in weekly numbers, and it had also dropped significantly in the weeks before.
The market-wide S&P 500 fell 3.37 percent on Friday to 2541.47 points. The technology-heavy NASDAQ 100 lost 3.91 percent to 7588.37 points.
The February data on US consumer spending and private income, as well as inflation data, received little attention. All of them still reflected the situation before the virus pandemic. But the mood data of the US consumers, which are collected by the University of Michigan, hardly moved. In March, when the corona crisis hit the USA, this indicator plummeted as much as it did last in October 2008.
According to US experts, more than half a million people worldwide have already been infected with the novel corona virus. As of Friday afternoon, there were more than 94,000 known infections in the United States, over 86,000 in Italy, and around 82,000 in China, according to an overview by the American Johns Hopkins University
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