US stocks open in the red as worries about the coronavirus outbreak once again take over
The anticipated economic fallout from the global coronavirus outbreak has been weighing on markets for weeks. Wall Street is close to a bear market, with major stock indexes having fallen nearly 20% from their February record highs.
The virus outbreak is expected to hurt global supply chains, trade and travel. The energy sector, which was already going to get hit with lower demand, now also has to deal with aBut not all is lost. Goldman is expecting a rebound later in 2020 after the coronavirus impact begins to wane, and forecasts the S&P 500 to get back to 3,200 points. That would be a 11% increase from yesterday's close. But until the turnaround, the S&P could fall further.
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