NY: Wall Street Flashes Recession Signal
NEW YORK (AP) — Stocks are headed lower in afternoon trading on Wall Street after erasing earlier gains, as investors close out a brutal first quarter.
Despite a slight gain for Tuesday, the S&P 500 is still headed for a loss of more than 20% for the first three months of the year. The surge of coronavirus cases has sent markets tumbling since mid-February, halting what had been a good start to the year.
Stocks have clawed back some of those losses with a rally the past week. Massive aid for the economy and markets from the Federal Reserve and Capitol Hill have helped spur some buying.
