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U.S. GDP Sinks 4.8% As Virus Ends Expansion

The longest economic expansion in U.S. history came to a shuddering halt in the first quarter as the coronavirus pandemic sent GDP tumbling into negative territory — with economists expecting far worse to come.

The Commerce Department reported Wednesday that gross domestic product contracted 4.8% in the January-March period, the first decline since the 1.1% drop in the first quarter of 2014 and the worst quarterly contraction since the Great Recession.

Since most of the coronavirus lockdowns that have brought the economy to a virtual standstill only began in the second half of March, economists are now bracing for a

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Business Value

MARKET WRAP: Sensex ends 173 pts lower after choppy session; banks slip

Fairness current market ended Wednesday’s volatile session in the damaging territory as coronavirus (Covid-19) conditions continued to increase in India and the federal government gave the trace that the nationwide lockdown may well get extended. Weak world cues, far too, dented the sentiment. 

The S&P BSE Sensex get rid of 173 details or .58 for each cent to 29,894 amounts with TCS (down around 4 for each cent) staying the major loser, adopted by Titan, ICICI Financial institution, and SBI. Drug key Sun Pharma (up approximately 5 for each cent), on the other hand, was the leading gainer on the
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Business Unit

MARKET WRAP: Indices off day’s high; Sensex up 693 pts, Nifty ends at 7,801

Frontline index S&P BSE Sensex was however up 802 details, or three.1 per cent, at 26,790 levels. Before, the index experienced surged to as a great deal as 27,463 levels. The Nifty index hovered about seven,830 levels, up 220 details, or two.8 per cent.

Tech stocks led Tuesday’s gains. Infosys jumped fourteen per cent though HCL Tech was up six per cent. Aside from, Bajaj Finance rebounded 19 per cent off the day’s lower though IndusInd Financial institution plunged thirty per cent intra-working day prior to paring majority of the losses to trade five per cent lessen.

All the Nifty

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