US equity markets fell as investors digested some sobering remarks on the economy from Federal Reserve Chair Jerome Powell - Dow down -517-points or -2.17%, with American Express Co (down -5.19%), Dow Inc (-3.43%) and Raytheon Technologies Corp (-3.25%) all posting declines of more than >3%. The broader S&P500 shed -1.75%, with Energy (down -4.39%) and Financials (3.01%) leading all eleven primary sectors lower. General Electric fell -3.5% to its lowest close (US$5.79) since 20 December 1991, amid growing concerns over the troubled aerospace industry as the COVID-19 pandemic continues. Mastercard Inc rose almost +3% in the extended session after observing that it has detected a slight rebound in credit-card use in the two weeks ended 7 May, in part due to the loosening of social-distancing rules in several areas and the impact of fiscal stimulus in the U.S. NASDAQ lost -1.55%.
