Dow falls for a third-straight day, losing 500 points after Powell’s warning; European shares close 2% lower as coronavirus fears weigh on investor confidence; BELEX15 up 0.69% as Belgrade Airport, Metalac and NIS saw upwards trend; NBS Expects 1.5% Lower GDP This Year
Stocks fell on Wednesday as investors grappled with downbeat remarks from the top-ranking Federal Reserve official along with worries over the market’s valuation. 
The Dow Jones Industrial Average dropped 516.81 points, or 2.1%, to 23,247.97. The 30-stock average had its worst day since May 1. The S&P 500 closed 1.8% lower at 2,820 while the Nasdaq Composite fell 1.6% to 8,863.17.  The tech-heavy index also fell back into negative territory for 2020 after Wednesday’s decline. 
Fed Chairman Jerome Powell said that more needs to be done to support the economy. The major averages were also under pressure after billionaire investor David Tepper called this market the second-most overvalued he’s ever seen.

European stocks closed sharply lower on Wednesday as concerns over a second wave of coronavirus infections, and the timing of a vaccine, weighs on investor sentiment.
The pan-European Stoxx 600 dropped 2% by the close, with travel and leisure stocks falling 4.8% to lead losses as all sectors and major bourses finished in negative territory.
Commerzbank swung to a loss in the first quarter as the coronavirus pandemic and increased loan loss provisions weighed on Germany’s second-largest lender. The bank posted a net loss of 295 million euros ($319.99 million). Commerzbank shares were down 7% by the close.

BELEX15 added 0.7% as NIS extended its advance, while Belgrade Airport and Metalac also contributed. The most traded name was NIS, with RSD 6.8m in volume.
The National Bank of Serbia projects, taking into account the effects of the pandemic and the measures adopted by the Government and NBS, the GDP to contract by around 1.5% in 2020 in real terms, and to increase by around 6% in 2021.
Source: CNBC, Ilirika