Stocks Sink On Second Virus Wave Fear, US Jobs
May 14, 2020
World equities sank Thursday as mounting US unemployment added to worries about a slow economic recovery from coronavirus shutdowns and a second wave of the deadly disease.
Sentiment was already moribund when data was released showing new US claims for unemployment benefit slowed to 2.98 million last week.
Markets had slumped Wednesday after Federal Reserve chief Jerome Powell warned of “lasting damage” to the economy from coronavirus shutdowns.