Business Dow Jones plunges 23% in worst quarter since 1987

Dow Jones plunges 23% in worst quarter since 1987

The index lost 410 points this Tuesday, 1.84%, compared to the previous session. Meanwhile, the S&P 500 and Nasdaq Composite have contracted 1.6% and 0.95%, respectively.

The Dow Jones industrial average has plunged 23% in the past three months, posting its worst quarter since 1987.

The index lost 410 points this Tuesday, 1.84%, compared to the previous session, in a context in which the US economy is being hard hit by the recession caused by the coronavirus pandemic.

Meanwhile, the S&P 500 and Nasdaq Composite indices are down 1.6% and 0.95%, respectively.

The IMF: The global economy is in recession

The losses of this day contrast with the strong gains of the previous session, when the Dow Jones rose nearly 700 points, largely thanks to Johnson & Johnson’s 8% increase following its announcement of the development of the coronavirus vaccine. For its part, the S&P increased 3.4%.

After the momentary rebound, Tom Lee, head of research at Funstrat Global Advisor, said the recovery in the markets was “a sign that they are probably at the bottom.”

Last week, the US Senate approved the stimulus bill two trillion dollars with the aim of boosting the country’s economy amid the coronavirus outbreak.

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