Wall Street analysts and investment managers expect another rough week for U.S. ...
NEW YORK - Wall Street analysts and investment managers expect another rough week for U.S. markets due to coronavirus fears, with a wild open for futures on Sunday evening as lawmakers battled over an economic aid package in Washington.
“We need to get some stabilization in news flow before the markets turn,” said Carol Schleif, deputy chief investment officer at Abbot Downing. Several states have expanded their restrictions on business operations or non-essential movement by citizens in recent days. Nearly one in three Americans is now being ordered to stay home, with bustling cities such as New York and Las Vegas all but shut down.
The decline in economic activity will obviously have a severe impact on the U.S. economy and corporate profits, but market strategists and economists said it is difficult to predict just how severe.
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