US stocks close lower on first session of April

US stocks slumped on Wednesday, to deepen losses following President Trump's bleak remarks about the coronavirus pandemic as he predicted that the worst is going to come in the coming period.

President Donald Trump stressed that the US will suffer from "very, very painful two weeks", and warned that the coronavirus would claim between 100,000 and 240,000 victims in the US.

Trump added that this massive number are the least possible if the social distancing measures are implemented properly, and if otherwise the death toll may rise over a million.

The ADP data showed that the US non-farm has lost 27K jobs in March, better than forecasts of -150K, while the manufacturing PMI contracted to 49.1 points. 

To the oil market, WTI crude fell 0.8% to close at $20.31 a barrel, with a day high of $20.8 and a low of $19.9.

Brent fell 6.1% to $24.74 a barrel, after hitting a high of $26.8 and a low of $24.5.

As for stocks, Dow Jones fell 4.4% or 973 points to close at 20,943, after it hit a day high 21,487 and a low 20,784.

Nasdaq fell 4.4% or 339 points to 7,360 points, with a high of 7,566 and a low of 7,301.

S&P 500 fell by 4.4% or 114 points to 2,470, with a high of 2,522 and a low of 2,447.