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Wall Street tumbles amid deepening coronavirus fears
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IANS | 02 Apr, 2020
Wall Street's major averages tumbled on Wednesday amid deepening concerns over the rapid spread of COVID-19 in the country. The
Dow Jones Industrial Average slumped 973.65 points, or 4.44 per cent,
to close at 20,943.51. The S&P 500 fell 114.09 points, or 4.41 per
cent, to 2,470.50. The Nasdaq Composite Index shed 339.52 points, or
4.41 per cent, to 7,360.58, Xinhua reported. The three major averages dropped more than 5 per cent at session lows. All
the 11 primary S&P 500 sectors pulled back noticeably, with
utilities and real estate both down more than 6 percent at the close,
representing the two worst-performing groups. The US became
the first nation with more than 200,000 COVID-19 infections on
Wednesday, according to a new tally from Johns Hopkins University. As
of Wednesday afternoon, a total of 203,608 confirmed cases have been
reported in the United States, with 4,476 deaths, showed the tally
updated by the university's Center for Systems Science and Engineering. Health
experts with the White House Coronavirus Task Force said Tuesday that
even with the Trump administration's national social distancing
guidelines in place, Americans still should be prepared for the prospect
of the coronavirus causing 100,000 to 240,000 deaths in the country. US President Donald Trump on Tuesday warned that the nation should prepare for "a very painful, very, very painful two weeks." On
the data front, economic activity in the manufacturing sector
contracted in March amid the coronavirus fallout, the Institute for
Supply Management (ISM) reported on Wednesday. The ISM manufacturing
index slipped to 49.1 per cent in March from the February reading of
50.1 per cent. US private sector employment decreased by
27,000 jobs from February to March, according to payroll data company
Automatic Data Processing on Wednesday.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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