Wall Street Opens Lower to End Worst Quarter Since 2008 By Investing.com

© Reuters.

By Geoffrey Smith 

Investing.com — U.S. stock markets opened lower on Friday, the last day of a quarter that is set to be their worst in over a decade, amid fears that the depth of the looming economic slump and the uncertain path of recovery thereafter still aren’t properly reflected in prices.

By 9:35 AM ET (1335 GMT), the was down 95 points or 0.4% at 22,232 points. The and the were both down 0.4%. The three main indices are on course for losses of 22%, 19% and 13% for the quarter, respectively. 

Positive overnight news flow from the Chinese economy and from some of Europe’s latest Covid-19 figures were overshadowed by new forecasts for the U.S. economy from Goldman Sachs (NYSE:), whose analysts said they expect the jobless rate to hit 15% in the second quarter, and gross domestic product to fall by an annualized 34%. 


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