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April 1, 2020, 9:32 a.m. EDT

Dow skids nearly 900 points lower at the open to start April trade as Trump warns of 'very, very painful' weeks ahead

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By Mark DeCambre

U.S. stock indexes open sharply lower Wednesday morning to start April and a new quarter, as as President Donald Trump warned on Tuesday that a "very, very painful" two weeks are ahead as the COVID-19 pandemic continues. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.04% opened down 889 points, or 4%, at 21,053, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.24% retreated 3.7% at 2,488, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.43% gave up 3.1% to reach 7,469. Markets are coming off of their worst monthly losses since the 2008 financial crisis. And investors appear to be attempting to come to grips with the prospect of a long slog from out of the morass of a viral outbreak that is pushing the domestic and global economy into a recession. The White House on Tuesday released new projections for 100,000 to 240,000 deaths in the U.S. from the coronavirus pandemic even if current social-distancing guidelines are maintained. Meanwhile, the number of COVID-19 cases world-wide rose to 862,234 on Wednesday, while the number of deaths rose to 42,404 according to aggregated data from Johns Hopkins University. In economic news, Automatic Data Processing /zigman2/quotes/207661132/composite ADP +1.16% reported the U.S. economy shed 27,000 private-sector jobs in March, though the data is expected to be of little use in predicting the official unemployment numbers due on Friday due to distortions created by the pandemic.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
24,465.16
-8.96 -0.04%
Volume: 255.66M
May 22, 2020 5:09p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,955.45
+6.94 +0.24%
Volume: 2.19B
May 22, 2020 5:09p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,324.59
+39.71 +0.43%
Volume: 3.40M
May 22, 2020 5:16p
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/zigman2/quotes/207661132/composite
US : U.S.: Nasdaq
$ 134.87
+1.55 +1.16%
Volume: 2.20M
May 22, 2020 4:00p
P/E Ratio
23.12
Dividend Yield
2.70%
Market Cap
$57.96 billion
Rev. per Employee
$242,819
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