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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 Dow Jones Industrial Average was down 95 points or 0.4% at 22,232 points. The S&P 500 and the NASDAQ Composite 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:GS), 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%.
