stocks open lower amid coronavirus concerns

Published:

On: Jun 2020

According to the news, American stocks opened mostly lower on Monday because investors increased worries of a resurgence of the coronavirus epidemic across the United States of America amid lockdown easing. Shortly after the starting, the Dow Jones Industrial average dropped to 75.13 points, or 0.29 % to almost 25,796.33.  

Whereas, the S&P 500 declined to 5.53 points or 0.18 %, to nearly s3,092.21. While, on the other hand, the Nasdaq Composite Index was increased to 1.03 points, or 0.01 % to 9,947.16. Reportedly, American stocks tied to the possibility of the United States economy reopening, including airlines as well as cruise lines, traded on a declined note. The number of newly finalized COVID-19 cases continued to increase across the country, growing questions about a swift economic betterment from the coronavirus pandemic.

More than 2.28 million finalized coronavirus cases have been reported in the United States, along with around 120,000 deaths, as of yesterday morning, as reported by the Center for Systems Science and Engineering at the Johns Hopkins University. In the week ending Friday, American stocks data represented that Wall Street acquired modest growth with the Dow Jones increased by one percent, while the S&P 500 and the Nasdaq improving 1.9 % and 3.7 % respectively.