Even Though The Economy Is Going Down Wall Street Performed Good In Previous Quarter

Wall Street

When it comes to wall street, investors here have seen all the ups and wons since the quarter started. The start of the coronavirus pandemic has made many things worse for big and small businesses. Even though the situation was more like a recession, Wall Street has managed to perform better than anyone’s expectations. The Dow went up with a significant 17.8% in this quarter, which did not happen in the last twenty years. NASDAQ composite also went, and overall the major stock indexes also went high, which is a significant thing for every investor. When the coronavirus epidemic started, wall street did not get well with it.

The majority of the stock indexes went down with a considerable margin. The Dow index during the start of the pandemic went down by 23.2% in just the first two months. Big and small businesses get affected because of nationwide lockdowns; people started losing jobs. However, things started to get better when the government decided to go with the principled reopening of the economy—more than 20 million people during the start of the lockdown filed for unemployment benefits. Things started to look worse as compared to other things because small businesses were closing down.

Many of these businesses were on the bankruptcy level; some of them even filed for it also. Things after some time started to become good after the government permitted to operate with precautions. People came back to their jobs while still fighting the risk of getting diagnosed with the coronavirus. The jobs data again shows that the rate of unemployment will be above 12% during this quarter. The inflation rate is still quite high, and economists are worried about how the second lockdown will improve the situation efficiently

About the Author

Steven Burnett
Being one of the leading news writers of the dailyheraldbusiness, Steven holds a specialization in the domains of business and technology. The passion he has for the new developments in the connected devices, cloud technology, virtual reality, and nanotechnology is seen through the latest industry coverage which is done by him. His take on the consequences of digital technologies across the world gives his writing a modern and fresh outlook.