Wednesday, April 1, 2020

Stock futures fall on continuing worries about economic fallout

Stocks closed out their worst quarter since the 2008 financial crisis.

By Ken Martin, FOX Business

Stocks plunged on Tuesday, to close out their worst quarter since the most harrowing days of the 2008 financial crisis.

The S&P 500 dropped a final 1.6 percent, bringing its loss for the first three months of the year to 20 percent as predictions for the looming recession caused by the coronavirus outbreak got even more dire. Stocks haven’t had this bad a quarter since the last time economists were talking about the worst downturn since the Great Depression, when the S&P 500 lost 22.6 percent at the end of 2008.

The Dow Jones Industrial Average of 30 U.S. blue-chip stocks dropped 23.2 percent for its worst quarter since 1987.

The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year.  Read more >>