Stocks are pulling back on Wall Street as more grim news piles up about the economic damage caused the coronavirus outbreak. The S&P 500 index fell as much as 1.3% early Thursday but cut its loss to 0.7% thanks to gains for Facebook and a handful of other big companies that released encouraging quarterly results. Treasury yields were also lower, while European stocks fell more sharply. The U.S. government reported more than 3.8 million laid-off workers applied for unemployment benefits last week, and data showed the European economy contracted by a record 3.8% in the first three months of the year.
Wall Street pulls back as dismal economic data piles higher
