Dow is low: index fell by 390 points by the end of NYSE session
NYSE key indices fell at the close of the trading session on Tuesday. According to CNN, investor sentiment was not strongly influenced by the statements of Federal Reserve head Jerome Powell and Finance Minister Steven Mnuchin about the prospects for recovery of economic activity after the pandemic.
Just before closing Dow Jones fell by 390.51 points (-1.59%), to 24 206.86. S&P 500 index, which includes the 500 largest companies on the U.S. market, fell by 30.97 points (-1.05%) and ended at 2,922.94. Nasdaq Electronic Exchange Index fell 49.72 points (-0.54%) to 9,185.10.
The value of June futures for WTI oil fell by 0.31% to US$31.86 per barrel at the end of the session.
As noted by The Wall Street Journal, market participants need clear signals that the measures taken by the US administration to stimulate the economy are having an effect."Bigger companies -- well-capitalized members of the S&P 500 that are able to execute online -- are asserting their dominance. For the economy to move forward, we need to get smaller businesses on pace as well," stated Michael Stritch, Head of Investment at BMO Wealth Management.