(Bloomberg) – US stocks fell the most in 12 weeks, as the scorching rise in stocks has stalled amid economic jitters. Treasuries rose and the dollar. The S & P 500 index fell by almost 6%, approaching the 7% level, which would cause a change prescribed pause trade. Only one company in the index – Kroger Co. supermarkets – ended up. The losses of the Dow Jones Industrial Average were even lower, to bring down the blue-chip instruments up to 7.1%. Airlines, cruise and travel stocks that rose in recent weeks claimed the sales weight. The KBW Bank Index of financial heavyweights slipped 9% and energy generator connected to an oil router. While much of the capital in the bustle of the recently due to sales rally, the mood was sour attacked as a sign that a possible second wave of the pandemic could take hold in some states. claims no US labor remained high, the long-term challenges posed by the pandemic. The report came a day after the Federal Reserve made a grumpy available economic outlook. Finance Minister Steven Mnuchin said the US economy should not go out again, although there is a further increase in crown cases. “The transition from the bottom in terms of rally was so amazing. In the new few weeks we could see some pullback,” said Solita Marcelli, Americas Deputy Chief Investment Officer at UBS Global Wealth Management. “This is especially the fears of the second wave that more and more interested, we also had the Fed yesterday. His assessment of the economy was a bit ‘weaker than it expected the market.” Being raised restrictions in the country, signs of a second wave of cases raised alarms were. More than 2 million people in the US have been infected. The localized impacts concern the experts will also increase the total number of cases in the nation earlier this week increased by about 1%, the smallest increase since March. “The sentiment has become more cautious,” said Shawn Cruz, senior Trader strategy manager at TD Ameritrade. “We really have to get the data that appear reopening extremely well run, and now we start some get headlines for being perhaps reopenings least break go” These are some of the most important steps in the markets: stocks, the S & P 500 fell 5.9% from 16.00 am, New York time. The Stoxx Europe 600 Index fell 4.1%. The MSCI Asia Pacific fell 2.1%. Currencies The Bloomberg Dollar Spot Index rose 1.2%. The euro fell 0.7% to $1.1293. The Japanese yen appreciated by 0.2% to $106.88 al. Bonds, the yield fell six basis points to 0.67% 10-year Treasuries. German 10-year yield dipped eight basis points to 0.41%. 10-year yield in Britain fell seven basis points to 0.198%. Commodities The Bloomberg Commodity Index fell 1.4%. West Texas Intermediate crude oil fell by 8.7% to $36.17 a barrel. -With assistance from Adam Haigh, Yakob Peterseil, Todd White, Nancy Moran and Sophie Caronello. Picture copyright by Mark Lennihan AP file
US stocks see biggest drop in 12 weeks amid fears of a pandemic Second Wave
