Dow drops 900 points in two days as economic woes mount
By Niv Elis - 05/01/20 04:18 PM EDT
The Dow Jones Industrial Average dropped 622 points, or 2.6 percent Friday, bringing its two-day losses to over 900 points as the economic woes caused by the coronavirus pandemic mounted.
Thursday's 288-point loss kicked off with dismal news that 3.8 million people signed up for unemployment insurance last week, bringing the six-week total to 30 million.
Next week's initial claims will include, for the first time, data on how many people signed up for expanded Pandemic Unemployment Assistance, which expanded unemployment insurance to freelancers, the self-employed and gig economy workers who are normally locked out of unemployment insurance.
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https://thehill.com/policy/finance/495725-dow-drops-900-points-in-two-days-as-economic-woes-mount
