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Weak corporate flash reports and troubling macro data are leading the US indexes. USA In today’s trade, with the Dow currently down 500 points, 2.1%, the S&P 500 2.3%, and the Nasdaq 1.5%.
The possibility of panic: falling exchange rates. Take advantage of the market movement, find our colleagues! Start
Energy companies and the financial sector are performing the worst today, with quarterly reports behind the recession. Bank of America fell 5 percent and Citigroup 4 percent today.
- Bank of America released figures slightly lower than analyst expectations for the first quarter of this year. The bank reserved a provision of $ 3.6 billion for the coronavirus epidemic.
- Citigroup reported better-than-expected first-quarter earnings and earnings per share, while the bank’s earnings fell 46% after a larger amount was set aside as a reserve for loans that could default due to the corona virus.
US Retail Statistics USA They came to light today, showing that retail sales plummeted to a record 8.7 percent in March, an unprecedented decline since data collection began in 1992. Although sales in supermarkets and pharmacies increased due to the epidemic, Sales plummeted in various areas, such as gas stations and restaurants.
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