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Dow, Nasdaq, S&P 500 sank amid fears of a long recovery going forward



Dow, Nasdaq, S&P 500 sank amid fears of a long recovery going forward

The Dow tumbled 6.9 percent on Thursday in the sharpest one-day decline since the start of the coronavirus as investors face the prospect of a slow recovery that might hurt.

The Dow Jones industrial average dropped 1,861.82 points, to close at 25,128.17, while the S&P 500 dropped 5.9 percent to 3,002.10. Even the Nasdaq Composite technology stock index, which was less affected by the pandemic, dropped 5.3 percent, to end the day at 9,492.73.

The one-day defeat marked the worst major average day since March 16, when they all fell by more than 11 percent when the governor began ordering restaurants to close their doors and unimportant workers to stay at home.

Driving the plunge is a report of increasing cases of COVID-19 in countries that have recently reopened their economies, including Texas, Arizona and California.

Investors were shaken by a jobs report that showed more than 1.54 million jobless claims, figures that are still within estimates, but in stark contrast to the surprising addition of 2.5 million jobs to the economic picture last week.

The Federal Reserve fanned a fire on Wednesday with dire predictions that things will get worse before it gets better. In its first projection for this year, the Fed predicts that US GDP will decline by 6.5 percent in 2020 with a rebound of 5 percent in 2021.

“We have to be honest that this is a long way to go,” Fed Chair Jerome Powell warned during a press conference outlining the findings, while confirming that interest rates would remain unchanged.

“The same old worries reappear today. “The spread of COVID-19 to new areas, concerns over the economy, and the stock market are historically overbought,” wrote Ryan Detrick, LPL Financial Senior Market Strategist after the closing bell. “They say the stock market is an escalator going up and a elevator going down, we sure saw it today.”

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Thursday’s dramatic reversal felt to many people like a bubble of optimism punctured by reality.

“What has been learned over the past three months is that no one knows what the market will do in the short term,” mused Michael Batnick, director of research at Ritholtz Wealth Management. “We switched from recession to depression to recovery to euphoria within 100 days. And now this. “

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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