Dow sinks 1,800 as virus cases rise, deflating optimism The Dow Jones industrials lost more than 1,800 points, nearly 7%, as increases in coronavirus cases deflated optimism that the economy could recover quickly from its worst crisis in decadesReopened for business: Here's how states responded to coronavirus in May The Associated PressTOKYO -- Stocks fell sharply on Wall Street Thursday as coronavirus cases in the U.S. increased again, deflating recent optimism that the economy could recover quickly from its worst crisis in decades. The Dow Jones Industrial Average sank more than 1,800 points and the S&P 500 dropped 5.9%, its worst day since mid-March, when stocks had a number of harrowing falls as the virus lockdowns began. The selling comes as coronavirus cases rise in the U.S., with some of the increase likely tied to the reopening of businesses and the lifting of stay-at-home orders. Bond yields fell and the price of gold surged 1.1% as worried investors shifted money into the traditional safe-haven assets. That report helped stoke optimism among investors that the economy can climb out of its current hole faster than forecast.

Source: ABC News June 11, 2020 07:33 UTC