Tom Lee of Fundstrat and Mona Mahajan of Allianz join "Squawk on the Street" to discuss the state of the markets after weak jobless claims numbers. The Dow Jones Industrial Average fell Thursday in choppy trading as Wall Street grappled with more concerns over the coronavirus outbreak and dismal economic data.
The 30-stock Dow was down about 120 points, or 0.5%, around 1:38 p.m. ET. The Nasdaq Composite, however, rose 0.7% as Amazon and Netflix reached record levels. The S&P 500 hovered just above the flatline. (Click here for the latest market news.)
New York Gov. Andrew Cuomo said Thursday the state, in coordination with other states, will keep nonessential businesses shut down until May 15.
The extension comes even as the hospitalization rate in New York has fallen. It also comes after President Donald Trump again advocated for a gradual reopening of the economy during a press conference Wednesday evening.
“There has to be a balance. You know, there’s also death involved in keeping [the economy] closed,” Trump said from the White House. “We have to get back to work.”
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