S&P 500 heads for worst first quarter since 1938
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(Worthy News) – U.S. stock markets steadied on Tuesday at the end of the worst first quarter for the S&P 500 since 1938 amid growing evidence of the largescale damage caused by the collapse in oil prices and business activity due to the coronavirus.
An unprecedented round of fiscal and monetary stimulus had helped equity markets stabilize last week following wild swings that sent the benchmark S&P 500 up 9% one day only to slump 12% in the next session.
Wall Street’s volatility index has retreated from 12-year highs, but is still at levels rarely seen since the global financial crisis as the outbreak deepens in the United States and disrupts supply chains. [ Source: Reuters (Read More…) ]
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