Stocks open sharply lower on Wall Street as the market gives back some of the gains it piled up over the past three days.
FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York. Shares are down in European trading on Friday, March 27, and expected to drop on Wall Street as investors weigh news of more virus infections against the economic stimulus provided by world authorities.
The selling erased some of the market’s gains after a strong three-day rally that has the major stock indexes on track for their first weekly gain in three weeks. Even after the winning streak this week the market is down 25% from the peak it reached a month ago. “We may have had a good run this week but the weekend can feel like a long time at moments like this and the numbers we’re getting from the U.S., which now has more cases than China or Italy, are getting uglier by the day,” he said.
For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death.
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