The market is down over 2% after wrapping up its best month in decades.
The Dow Jones Industrial Average was down 1.6%, nearly 400 points, at Friday’s open, while the S&P 500 fell 1.8% and the Nasdaq Composite lost 2%.that the coronavirus was manmade in a Wuhan lab, despite findings from his top intelligence officials saying otherwise. in the early stages of crafting retaliatory measures over the outbreak, according to Reuters.
Shares of Apple and Amazon fell after first quarter earnings showed the negative impact of coronavirus on both companies, dragging the market lower. in iPhone sales, with overall revenue growth remaining flat. The tech giant’s stock is down over 2% on Friday. Amazon saw its shares fall nearly 5% after the company posted first quarter profits that missed expectations and warned that it will spend“Markets are looking past 2021 earnings,” says David Trainer, CEO of New Constructs. “They see the COVID-19 impact as temporary, not permanent.
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