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The Dow slumped because investors became afraid of the economy

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A face mask is seen in front of the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. - Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

US stocks plummeted to a close, with all three indexes recording their worst performance since March 16 – when stock selloffs over fears how a pandemic will affect the economy are at their worst.

That Dow (INDU) closed 1,862 points, or 6.9%, lower. The index fell back below 26,000 points for the first time since the beginning of the month.
That S&P 500 (SPX) ended down 5.9%, closing at the lowest total point since the end of May. Only one S&P stock, wholesale chain Kroger (KR), closed in positive territory.
That Nasdaq Composite (COMP), which reached an all-time high on the first three days of the week, closed 5.3% lower. The index recorded three consecutive all-time highs at the beginning of the week and ended above 10,000 points for the first time in history Wednesday, but on Thursday it fell back to levels not seen since late May.

US crude oil prices closed at $ 36.34 a barrel, down 8.2%.

The increasing number of corona virus cases in the United States has scared Wall Street. The second wave of infection can force many businesses to close again right after they are reopened.

Treasury Secretary Steven Mnuchin said the US economy would not close again even though the number of cases had increased.

“We cannot kill the economy anymore. I think we have learned that if you shut down the economy, you will create more damage, and not only economic damage, but there are other areas,” he told CNBC in an interview.

Mnuchin said more than one trillion dollars would be pumped into the economy over the next month.

Federal Reserve Chair Jerome Powell said on Wednesday that the economic future was very uncertain.

Although Powell acknowledged that the May jobs report, which showed 2.5 million jobs were added to the economy, was a welcome surprise, he noted that millions of Americans would never return to their jobs and could remain unemployed for years.

Another 1.5 million Americans filed for unemployment benefits the first time last week, data from the Labor Department showed Thursday. The number of continuing unemployment claims, which counts people who have applied for benefits for at least two consecutive weeks, remains above 20 million.

The Fed projects the unemployment rate to fall to 9.3% at the end of the year from 13.3% in May. Before the pandemic, in February, the unemployment rate approached a 50-year low of 3.5%.

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Gross domestic product – the largest economy size in the country – is expected to plummet 6.5% this year before the rebound.

The central bank is expected to maintain its stimulus for the foreseeable future. The central bank does not expect to raise interest rates this year or in 2021, according to the so-called dot plot, which maps the expectations of members of the monetary policy committee. Even in 2022, only two policymakers expect an increase.

“We are not thinking about raising interest rates – we are not even thinking about raising interest rates,” Fed Chair Jerome Powell told reporters at a press conference.

Usually low interest rates are good for stocks because it is getting cheaper for companies to borrow money. But at this time, low interest rates for a longer period also means that the economy will not be re-established for a while.

President Donald Trump said in a tweet that the Fed was often wrong, adding “We will have a very good Third Quarter, a great Fourth Quarter, and one of our best years in 2021.”

Global stocks also fell sharply. Japan Nikkei 225 (N225) finished down 2.8% and Hong Kong Hang Seng Index (HSI) closed down 2.3%. Chinese benchmark Shanghai Composite (SHCOMP) give up 0.8%. In Europe, Germany DAX (DAX) finished down 4.5%, while France CAC 40 (CAC40) shed 4.7%. That FTSE 100 (UKX) decreased by almost 4% in London.

Coronavirus infection

Since Remembrance Day on May 25, the number of coronavirus hospitalizations has been lost in at least a dozen US states, according to CNN data collected from the Covid Tracking Project. They are Alaska, Arkansas, Arizona, California, Kentucky, Mississippi, Montana, North Carolina, Oregon, South Carolina, Texas and Utah.

When countries throughout the country reopen their economies, people are forced to coexist with the virus. The closely watched coronavirus model from the Institute for Health Metrics and Evaluation at the University of Washington was updated on Wednesday now estimating nearly 170,000 deaths from coronavirus in the United States on October 1.

AMC plans to reopen its cinema in July

“If the US cannot check growth in September, we can face a worsening trend in October, November, and the following months if a pandemic, as we predict, follows the pneumonia season,” IHME Director Dr. Christopher Murray said in a statement.

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The number of global cases also continues to increase, with almost 7.4 million confirmed confirmed infections, according to Johns Hopkins University. Brazil, Russia, Britain and India have the most cases after the United States. More than 415,000 people worldwide have died.

Hopeless hope

Many investors have bet on a quick recovery for the world’s largest economy.

The S&P 500 surged into positive territory for the year earlier this week even when economists formally declared the US economy was in recession. The Nasdaq reached 10,000 points for the first time in history Tuesday.

On Thursday, the S&P was negative again for this year and the Nasdaq returned below the key threshold.

But the increasing number of cases of corona virus in the United States coupled with dire economic projections from experts including the US central bank shows ongoing pain for companies and workers. Gloomy outlook now may be increasingly difficult to ignore.

Stephen Innes, head of global market strategy at AxiCorp, said on Thursday that the market was having a hard time digesting headlines indicating an outbreak of a new virus in the United States. “Secondary outbreaks have nothing to do with sneezing,” he said.

This is official: the recession began in February

– Faith Karimi, Arman Azad, Joe Sutton, Betsy Klein and Paul La Monica contributed reporting.

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Portugal beat Switzerland with Gonçalo Ramos hat-trick to play Morocco in World Cup quarter-finals – Observer

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Portugal beat Switzerland with Gonçalo Ramos hat-trick to play Morocco in World Cup quarter-finals - Observer

Absence of Ronaldo, favorite song and game with Morocco. Gonzalo Ramos sums up a (beautiful) night he never dreamed of

Goncalo Ramos’ debut as a starter at the World Cup saw him score three goals and have a great night. Although there was talk before the game about the absence of CR7 in the starting lineup, the Benfica player said that it was different in the dressing room: “Honestly, in our dressing room, no one talked about it. Cristiano as our captain did what he does in every game. He helped us, motivated us and gave me a word of encouragement both for himself and for everyone else.”

After explaining at a press conference that he only had time to call his parents and best friends, Gonçalo Ramos turned to the next game, in which Portugal would “come out with everything”. “The game against Morocco will start 0-0. Today’s score doesn’t matter anymore.”

When asked about today’s performance, the Benfica player said that even in his wildest dreams he never thought of making his debut in the starting lineup in the World Cup playoffs with a hat-trick. “In relation to exemplary players, Ronaldo is an idol for many. I also like Lewandowski and Ibrahimovic.”

In a more relaxed moment, journalists asked Ramos what his favorite song is and what song he would like to hear when he scores goals. “This song contains profanity. Maybe it’s better not to mention it. Another? The music when we score is good. This can continue.”

After the press conference, Gonzalo Ramos went to receive the Man of the Match trophy. Upon receiving the award, he was asked which of his teammates he would give it to if he could choose: “I would give it to the whole team, because without the whole team it’s impossible to win games.”

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Turismo Centro de Portugal promotes discussion on the importance of the Portuguese route to Santiago for the region : Gazeta Rural

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Turismo Centro de Portugal promotes discussion on the importance of the Portuguese route to Santiago for the region : Gazeta Rural

BUT Tourism in Central Portugal organizes on December 19 and 20 two conferences on the importance of Caminhos de Santiago tourism product in Central Portugal.

The colloquium will take place in melkhada you Covilhã and offer a reflection on Structuring, Knowing, Experience and Dynamizing different layouts portuguese way santiago, with a focus on the importance of this tourism product for the local economy.

The first action, on the 19th, will take place at the Cineeatro Messias, in Mealhada, a municipality that is on the Caminho Português Central route. The next day, the stage will be the Hall of the Municipal Assembly of Covilhã, the city where the Caminho Português Nascente takes place.

Registration is free and mandatory via the following links:
Colloquium in Mealhada, December 19 – https://bit.ly/caminhosMealhada
Colloquium in Covilhã, 20/12 – https://bit.ly/caminhosCovilha

Work will take place in the morning, from 10:00 to 13:00. In the afternoon (15:00 – 16:30) there will be a practical part with a short walk along the section of the Portuguese route to Santiago, so it is advisable that the participants be prepared for this purpose.

The initiative is aimed at the community, as well as local and regional public and private organizations. It will bring together speakers and participants from the fields of culture, spirituality, tourism and heritage, who will conduct a dialogue on these topics and their prospects for future development in the central region of Portugal.

The colloquium is held as part of a cross-border project “Kaminos – the Jacobin trails of the western peninsula” (POCTEP Interreg) and enjoy the support of the municipalities of Mealhada and Covilhã.

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The Portuguese way is becoming more and more popular

The Camino de Santiago is of great interest to visitors and the number of pilgrims arriving in Santiago de Compostela is increasing. According to the Pilgrims’ Office, the increase in the number of pilgrims along the Portuguese Way has been notorious, which has affected the local economy, namely the accommodation and catering sectors. Turismo Centro de Portugal aims to improve this cultural and religious route.

The cross-border project Caminos – Rede Transborderiça de Caminhos Jacobeus do Oeste Peninsular includes 10 Spanish partners and 3 Portuguese partners and has as its main mission the dissemination of the various routes of the Camino de Santiago, as well as the promotion of its natural and cultural values ​​and its potential tourist.

It also seeks to ensure closer contact between territorial agents in order to create synergies with all social and economic agents associated with the Way, improve equipment, signaling and ICT application on the routes in order to provide them with the necessary infrastructure, thereby increasing the cross-border cultural offer.

It also intends to create conditions for increasing the number of travelers and pilgrims on the various Jacobin routes in the west of the peninsula, promoting the economic development of both territories through tourism-related resources, increasing the competitiveness of the area, increasing employment in the tourism sector and improving the quality of cross-border tourism products and services. .

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The Portuguese still hasn’t scored in the playoffs of the World Cup

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The Portuguese still hasn't scored in the playoffs of the World Cup

It was not enough to fight for the title in Portugal., Cristiano Ronaldo often subjected to pressure Lionel Messi at the 2022 World Cup. Guaranteed in the quarterfinals, the Argentine star is finally scored his first knockout goal at the World Cup, in a victory over Australia, in the 1/8 finals. The Portuguese remains empty in the decisive stages of the competition.

Also participating in his fifth and probably the last Cup in his winning career.In total, Ronaldo has scored eight goals in World Cups. All were noted at the group stages (one in Germany-2006, one in South Africa-2010, one in Brazil-2014, four in Russia-2018 and so far one in Qatar-2022).

At the age of 37, CR7 scored in an edition on Qatari soil only in his debut. He scored a penalty goal that paved the way for a long-suffering 3-2 victory over Ghana. Then, in matches against Uruguay and South Korea, he collected missed opportunities, got offside several times and, above all, became the object of even more contestation. from the critics.

Even against the Uruguayans, the No. 7 Portuguese finished the match believing he had scored the first goal in a 2-0 win. and backstage – who touched the ball with his head (or hair) on a cross by Bruno Fernandez, who at the time, and also after a FIFA reassessment, was confirmed as the author.

Is free ball marketbecause the contract was terminated by mutual agreement Manchester United, Ronaldo has only five finishes in the 2022 Cup so far: two correct and three incorrect. Today with nine goals at the world championships, Lionel Messimeanwhile, has 12 shots (eight correct and four incorrect) – only in the group stage.

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Even after several controversies in England, the veteran striker could not avoid controversy in the national team. The latter came in the defeat against South Korea, in the last round of group H. He could have been spared, like a large part of the team, but he was kept in the starting lineup, mainly because he wants, among other goals, score nine goals in World Cups and equal his historical compatriot Eusebio And now too Messi.

Despite such determination, CR7 proved to be the team’s worst player in a 2-0 loss. To make matters worse, when he was substituted 20 minutes into the second half, he left complaining about the bench: He said these words: “you s… hurry to get me out”🇧🇷 The flash did not find a response in the technical commission, to the point that coach Fernando Santos publicly says he “didn’t like anything” from what he saw.

Between criticism and controversial cases, Cristiano Ronaldo is unlikely to be taken out of the starting XI, especially in the decisive phase. Despite the problems, he remains a big attacking hope for Portugal, who will face Switzerland this Tuesday (6th) at the Lusail Stadium in the round of 16.

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