The Indicator Standard & Poor’s 500 (S&P 500) Index fell 3.07 percent after stock investors did not take into account the White House and Congress leaders agreeing on a new spending package to cope with the effects of the coronavirus outbreak. The historical sales wave in crude oil shook the markets on the second day. June-term West Texas oil (WTI) was the first time in history on Tuesday for May-term oil. under After completing his due date, he would have lost his intermediate loss to 70 percent.
The recent slump in oil prices may have pointed out that the impact of the global economy may be worse than investors think, which raised the S&P 500 Index by 28 percent from its low levels in March. While major economies around the world are taking timid steps to reopen, the signs that the US is close to increasing spending were not enough to suppress concerns about the depth of its recession.
Fiera Capital Corp. “The markets seem to be breathing after the rapid recovery,” said Candice Bangsund, portfolio manager responsible for global asset allocation, and said, “A significant part of this breath is due to the enormous and historical collapse in crude oil prices. These developments have been catalysts to undermine already fragile market confidence.”
The S&P 500 Index closed on Tuesday, down 86.60 points, or 3.07 percent, to 2,736.56 points, while the Dow Jones Index closed 631.56 points, or 2.67 percent, from 23,018.88 points, and the Nasdaq Index fell 297.50 points or 3.48 percent to 8,263.23 points.
