Date Published: June 12, 2020
The global stock markets have fallen following warnings from the US Federal Reserve that the American economy faces a long road to recovery. Yesterday, the three main share indexes in the US saw their worst days in weeks, with the Dow Jones Industrial Average falling almost 7%. In prior weeks, share prices have seen some increases as restrictions began to be loosened. Several of the states that have begun to reopen, including Arizona and South Carolina, have recently seen increases in the number of daily COVID-19 cases. Federal Chairman Jerome Powell warns that even local spikes could undermine people’s confidence in travel, restaurants, and entertainment, which could hurt economic recovery.
Read the full article here: https://www.bbc.com/news/business-53015467
Summary by: Angus Lau