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Wall Street closes sharply in a minor quarter | Financial

The Dow-Jones index ended 2 percent lower at 21,888 points. The S&P fell 1.7 percent to 2582 points, and technology gauge Nasdaq lost 1 percent at 7,700 points.

Due to the large losses on Wall Street since the middle of February due to the corona crisis, the Dow Jones has experienced its worst first quarter since 1938. Recently, there has been another rally backed up by government support measures against the crisis, including a US $ 2 trillion economic aid package from the US government.

Financial market sentiment is getting some support from industry data in China, which recovered from the dramatic contraction in February. With this, the world’s second economy appears to be cautiously absorbing the severe blow to the virus outbreak.

Activity in the sizeable Chinese industry picked up considerably this month, after the sector showed the strongest contraction ever in February due to the corona crisis. This is good news because the world’s second economy appears to be cautiously recovering from the severe blow to the virus outbreak. There were also disappointing macroeconomic figures from the US itself. US consumer confidence in the economy declined less in March than most economists had anticipated.

Cruise provider Carnival won 1 percent after a solid opening loss. Carnival expects to suffer a loss from the cruise industry slump due to the corona crisis and to scrap dividends and share buybacks. In addition, the company issues billions of new shares and bonds.

The American paint producer Axalta (minus 2.9 percent) continues on its own. That is what AkzoNobel’s industry colleague has decided after a nine-month investigation into alternative options. A sale of the company was also not excluded. Ultimately, however, the board sees the most benefit in its own strategic plans.

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