The Evening Standard

US stocks close out best quarter since 1998 with further gains

July 1, 2020

Wall Street capped its best quarter since 1998 on Tuesday with more gains, as the market surged back towards its record heights after a torrid plunge, as the coronavirus pandemic ground the economy to a halt and millions of people lost their jobs.

The surge in confirmed new cases, which has prompted the European Union to bar US travellers from entry, is seeding doubts that the economic recovery can happen as quickly as markets had forecast.

Dr Anthony Fauci, the nation’s top infectious-disease expert, has warned that the number of daily new reported infections could surge to 100,000 if Americans don't start following public health recommendations.