Stock markets stumbled last week as investor sentiment was weighed down by a resurgence in trade tensions between the U.S. and China and concerns that the economic recovery may be more drawn out than expected following cautious commentary from Federal Reserve Chairman Jerome Powell among others.

U.S. equities posted strong gains last week as investor sentiment was bolstered by efforts to reopen businesses across the country with at least 30 states already having lifted some restrictions or in the process of doing so this month. For the week, the tech-heavy Nasdaq Composite index continued to lead the way with a 6.0% gain, while the S&P 500 and Dow Jones returned 3.6% and 2.7%, respectively.

Stock markets swung sharply last week as disappointing economic data and corporate earnings results later in the week erased early gains from easing coronavirus lockdown restrictions and promising Covid-19 treatment developments.

U.S. equity markets took a pause in their recent rally and slid lower last week as they were weighed down by Monday’s historic collapse in oil prices in addition to the bleak picture painted by economic and corporate earnings data. For the week, the S&P 500 lost -1.3%, while the Dow and Nasdaq Composite fell -1.9% and -0.2%, respectively.

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic was passed by the House and signed by the President.