Dow (( futures contracts fell 157 points, or about 0.6%. )S&P 500 (( futures fell about 0.7% and )Nasdaq (( futures contracts were down about 0.7%. )
Stocks fell on Wednesday after a plethora of negative economic data and low profits.
The Dow Jones fell 445 points, or 1.9%. The S&P fell 2.2% and the Nasdaq 1.4%, matching its longest four-day winning streak since early February. The Dow and the S&P 500 had their worst day since April 1.
Bank of America (( and )Citigroup (( saw low bank income as they prepared for the pandemic-related defaults. Bank of America’s first quarter profits fell 45%. The bank said on Wednesday it had set aside $ 4.8 billion for credit losses from the virus. )
Economic data released Wednesday also fell sharply. Retail sales in March fell 8.7%, the worst monthly decline since the department started tracking data in 1992. Thursday’s jobless claims weekly report is expected to release 5.1 million more people – during the week ending April 11 – who filed for unemployment benefits.