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  • Wall Street stocks tumbled into negative territory Friday afternoon, losing all of their early gains as a bounce-back rally from Thursday's rout fizzled. The Dow Jones Industrial Average was down 0.1 percent to 25,112.57 around 1750 GMT, off around 850 points from its session high. The broad-based S&P 500 shed 0.5 percent to 2,988.06, while the tech-rich Nasdaq Composite Index dropped 0.7 percent to 9,425.33. Major indices on Thursday suffered their worst session since March on worries that a resurgence in coronavirus cases in some states will threaten the US economic recovery following shutdowns to stop the virus earlier in the spring. Stocks opened solidly higher on Friday, but were volatile thereafter. Art Hogan, chief market strategist at National Securities, said the jump in coronavirus cases in Texas, Florida and other states added to worries about excess stock valuations and still-weak economic data. "We thought we had peaked" on coronavirus, Hogan said, adding that higher cases numbers will slow the reopening of the economy following shutdowns to contain the virus. "Going from phase two to phase three is going to take longer if we're seeing an increase in cases," he said. jmb/hs
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  • US stocks turn negative as early rally fizzles
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