Dow drops over 900 pts ahead of CARES Act signing

Friday, 27. March 2020 21:00

Wall Street ended lower on Friday as United States President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act which will support the US economy with $2 trillion amid the COVID-19 pandemic. Earlier, Google announced it would give $800 million to support the economy amid the crisis while the number of coronavirus patients in the US was reported at 98,925.

Gains from a three-day rally were somewhat diminished as the Dow Jones Industrial Average fell 4.06% as Boeing lost 10.27%. However, the index saw its biggest weekly rise since 1938 despite Friday's fall. The Nasdaq 100 ended 3.91% lower as Autodesk led the losses as it fell 12%. The S&P 500 declined 3.37%. The worst stock on the index was Norwegian Cruise Line Holdings which plummeted 23.49%.

The euro gained 0.88% compared to the dollar and traded for 1.11281 at 4:03 pm ET.

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Author:
Breaking the News / VP