With what feels like the longest March in history, investors were eager to get the second quarter and new month started. However, this week proved to be another volatile one. Stocks continued to ebb and flow as more news about the economy, coronavirus and other geopolitical events took place.
The economic fallout from the virus has begun, with various pieces of economic data showing worsening conditions. The spread of COVID-19 has quickened pace in several key locations in the United States, which helped send stocks on a wild ride throughout much of the week.
However, the official passage and signing of the CARES Act, continued stimulus measures from central banks and lower reported COVID-19 case numbers in Europe gave traders hope during the week. This all allowed stocks to have several up periods as well.
All in all, the markets continued their wait-and-see approach, with stocks moving in every direction.
Be sure to check out our previous Wrap here, when new stimulus measures kicked off a rally.
