A combination of very weak economic data and disappointing quarterly earnings releases dragged US equity markets lower - Dow down -445-points or -1.86% The broader S&P500 fell -2.20% Energy (down -4.67%), Materials (-4.51%) and Financials (-4.37%) led all eleven primary sectors into the red. Airline stocks were mixed even after the biggest carriers struck an agreement in principle with the federal government on financial assistance aimed at averting layoffs in the hard-hit industry. Delta Air Lines Inc fell -0.8%, while United Airlines Holdings Inc rose +3.1% and American Airlines Group advanced +2.9%. It marked the worst single session performance for both the Dow and S&P500 since 1 April.The NASDAQ dropped -1.44%. President Trump said earlier this morning AEST that he is planning a Thursday (16 April) announcement on guidelines for re=opening parts of the country amid the coronavirus pandemic. He said data suggests the U.S. has passed its peak of new cases and such "encouraging developments" allow for finalizing guidelines for states on reopening.
