US: Stocks fall as Fed chief warns of lasting economic hit

[NEW YORK] Wall Street stocks fell early Wednesday as the Federal Reserve chief said more fiscal support may be needed to prevent lasting damage to the US economy from the coronavirus crisis.

About 10 minutes into trading, the Dow Jones Industrial Average stood at 23,550.84, down 0.9 per cent.

The broad-based S&P 500 dropped 0.7 per cent to 2,849.40, while the tech-rich Nasdaq Composite Index slid 0.4 per cent to 8,968.22.

AFP

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