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About: http://data.cimple.eu/news-article/03bc5b96cffe98b4c9b1e81c161b5e7ef26042c2e16c90791a4273db Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks fell further in mid-morning trading Wednesday amid rising evidence the coronavirus outbreak could slow the US economy, posing significant recession risk. A survey showed that nearly three-quarters of American firms have suffered supply disruptions due to the virus, while hotel chain Hilton became the latest big company to withdraw its earnings forecast due to the clouded economic forecast. Near 1500 GMT, the benchmark Dow Jones Industrial Average was down about 900 points, or 3.6 percent, at 24,115.46. The broad-based S&P 500 sank 3.3 percent to 2,785.92, while the tech-rich Nasdaq Composite Index dropped 3.1 percent to 8,131.61. While stocks rallied on Tuesday, equities have been on a broad downward trend for the last three weeks or so as the coronavirus has morphed from a China-centered problem to a global worry, threatening the 11-year US "bull" market for stocks. Fresh news on the coronavirus front included the postponement of the giant Coachella music festival in California and a decision by the Bank of England to enact an emergency interest rate cut. German Chancellor Angela Merkel cited forecasts that some two-thirds of the country could contract the virus, while US lawmakers and President Donald Trump's administration were engaged in back-and-forth on possible stimulus measures for the US economy. US Treasury Secretary Steven Mnuchin told a congressional panel the administration was "working full time" on a package, although there were indications that an idea to cut payroll taxes faced opposition on Capitol Hill. Goldman Sachs again slashed its 2020 earnings forecasts, saying in a note both the real economy and financial economy were showing "acute signs of stress" as travel slows to a trickle and the oil industry reels in the face of lower prices. Travel-linked stocks remained an especially ugly sector, with Marriott International down 7.3 percent, United Airlines 6.8 percent and Expedia 5.7 percent. Petroleum-linked shares were also weak, with Devon Energy losing 6.4 percent and Halliburton 8.1 percent as a US oil inventory report showed higher supplies. jmb/cs
schema:headline	US stocks tumble, resuming selloff on virus fears
schema:mentions	United States Secretary of the Treasury Steven Mnuchin S&P 500 Index Interest rate Marriott International Hilton Worldwide Coachella Valley Music and Arts Festival Stock 2020 coronavirus outbreak in Italy Chancellor of Germany Dow Jones Industrial Average Goldman Sachs United Airlines Psychological stress Recession Angela Merkel Hotel England United States Congress California Virus United States Coronavirus President of the United States Donald Trump Devon Energy Halliburton Expedia NASDAQ Composite Greenwich Mean Time
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-11 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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