U.S. stocks start low: Dow opens below 20,000
Markets open with a dip as global economies head toward recession
March 19, 2020 - 9:58am
The Dow Jones Industrial Average fell 500 points Thursday at opening, after closing below 20,000 yesterday for the first time since 2017.
Countries in southern Europe saw a moderate recovery in trading ahead of U.S. markets opening, as the European Central Bank unfurled new bond-buying measures.
U.S. markets have in recent weeks lost nearly one-third of their value since recent all-time highs, triggering concerns of a recession.
On Wednesday, the National Restaurant Association said it would be seeking a bailout of up to $250,000 billion, as dining rooms across the country shutter and staff are laid off.
The Dow on Wednesday dropped more than 1,300 points, reacting to the worldwide coronavirus that has kept consumers inside their homes and closed the stores, restaurants and now factories in which they shop and earn paychecks.
Also on Wednesday, the Senate passed the House emergency coronavirus package that will immediately ensure paid leave benefits for many Americans.
Congress is working around the clock to pass a third stimulus package, that Senate Majority Leader Mitch McConnell says will provide an "historic injection of liquidity" into the American economy and households.
The Dow on Monday plunged nearly 3,000 points, the largest point drop in the index's history, before rebounding more than 1,000 points on Tuesday.
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