April 30 US and European stocks slumped amid dire economic warnings, more dismal data and corporate results that showed the coronavirus’s toll on businesses. Oil extended a rebound after an early-week tumble. The S&P 500 fell from a seven-week high as the latest US unemployment figures showed a larger-than-expected jump in new benefit claims and European Central Bank President Christine Lagarde said the euro-area economy could shrink 12 per cent this year.
Strong results from Microsoft, Facebook and Tesla limited losses on the tech-heavy Nasdaq gauges.