Selling swept Wall Street Wednesday after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy. Markets are already bracing for what’s forecast to be the worst downturn since the Great Depression, but Wednesday’s data was even more dispiriting than expected, including a record drop for U.S. retail sales. Stocks around the world fell, reversing Tuesday’s up trend, as markets continue to cycle between fear and budding optimism about how long and deep the recession will be. The S&P 500 lost 62.70 points, or 2.2 percent, at 2,783.36. The Dow Jones Industrial Average fell by 445.41 points, or 1.9 percent, at 23,504.35, and the Nasdaq was down 122.56, or 1.4 percent, at 8,393.18.-AP

Source: The Standard April 16, 2020 02:25 UTC