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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks sold off on Tuesday, with indices closing in the red as trader enthusiasm for a recovering economy was overtaken by fears of a resurgence in Covid-19 infections. Wall Street indices climbed on Monday after bond yields dropped as investors grew comfortable that out-of-control inflation wasn't imminent, but sentiment reversed on Tuesday amid fears that the pandemic wasn't done with the United States yet. At the close, the benchmark Dow Jones Industrial Average was 0.9 percent lower at 32,423.15. The broad-based S&P 500 lost 0.8 percent to finish at 3,910.52, while the tech-rich Nasdaq Composite Index fell 1.1 percent to end at 13,227.70. Markets also watched testimony in Congress from Treasury Secretary Janet Yellen, who signaled President Joe Biden may propose raising the corporate tax rate to 28 percent as he pushes expensive stimulus proposals including an overhaul of the nation's infrastructure. Speaking at the same hearing, Federal Reserve Chair Jerome Powell again downplayed fears of a spike in inflation as the economy heals, which traders worry could cause the central bank to raise rates from their zero level sooner than expected. JJ Kinahan of TD Ameritrade warned that even as markets remain hopeful for a return to normalcy as more people get vaccinated against Covid-19, the economy isn't out of the woods yet. "The week began with more worries in Europe, where vaccination progress is lagging and some countries like Germany are shutting down. On Monday, concern popped up about a rise in US cases as new variants make their way through various states," he said in a note. Among individual stocks, Dow member Caterpillar saw a drop of 3.4 percent. Airlines sold off amid the resurgent virus fears, with United Airlines closing 6.8 percent lower and American Airlines losing 6.6 percent. Cruise line Carnival dropped 7.8 percent. cs/ft
schema:headline	Covid fears grip US stocks, Dow closes 0.9% lower
schema:mentions	United States Secretary of the Treasury Judge S&P 500 Index Dow Jones Industrial Average American Airlines United Airlines Corporate tax Carnival Federal Reserve Inflation United States Congress European Union Pandemic Virus Coronavirus disease Joe Biden Vaccine United States President of the United States Coronavirus disease 2019 Janet Yellen Caterpillar Inc. The Week Christy Kinahan TD Ameritrade Jerome Powell NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-23 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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