Reuters: S&P 500 falls 3% on new virus wave fears, Fed's cautious outlook
The S&P 500 saw a historic rally that seemed disconnected from the world. As millions lost their jobs and our economy entered a recession, the stock market seemed to be unaffected. This is due to Chairman Powell's money printing, but after new mentions of COVID-19 as a second wave, the market now seems falling hard:
U.S. stocks extended losses on Thursday, with the S&P 500 on track for its sharpest percentage decline since April 1, as investors worried about a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.
As of today, The DOW JONES is down by over 1,000 points and the S&P 500 reflects over a 3% decrease.
