U.S. stocks capped the week with another session of painful losses on Friday amid worries around the COVID-19 outbreak's potential to upend the global economy. Stocks trimmed Friday's losses by the closing bell with the Nasdaq turning positive. The S&P 500 SPX, -0.82% was down 0.8% to end around 2,955. The Dow Jones Industrial Average DJIA, -1.39% retreated 358 points, or 1.4%, to finish near 25,409, based on preliminary numbers. The Nasdaq Composite COMP, +0.01% was up less than 0.
1% at 8,567. But for the week, the S&P 500 was down 11.5%, the Nasdaq fell 10.5%, and the Dow tumbled 12.4%. For the month, the S&P fell 8.4%, Dow fell 10%, and the Nasdaq dropped 6.4%. Federal Reserve Chairman Jerome Powell issued a statement saying the U.S. central bank would act as appropriate and monitor the coronavirus impact, an announcement that raised expectations for monetary easing later this year. The 10-year Treasury note yield TMUBMUSD10Y, -7.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
'Correction territory'. We'll rebound Monday. -Donald Trump, probably
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. stocks have worst week since 2008BREAKING: Dow Jones plummets nearly 1,200 points, more than 4%, as economic uncertainty over the spread of the novel coronavirus continued to rattle markets. Oh dang 🤣 get ready to make some money 😁 Here’s today’s date... It was a sham market before coronavirus. Don't use that as an excuse.
Source: ABC - 🏆 471. / 51 Read more »
World stocks set for worst week since 2008 as virus fears grip marketsAsian stocks tracked another overnight plunge in Wall Street's benchmarks with the markets in China, Japan and South Korea all posting heavy losses. It's just the beginning
Source: trtworld - 🏆 101. / 63 Read more »
Global stocks head for worst week since the financial crisis amid fears of a possible pandemicWorld Health Organization Director General Tedros Adhanom Ghebreyesus said on Thursday that the virus has 'pandemic potential.' $BA NO SH!T?! MSM- we're all doomed!
Source: CNBC - 🏆 12. / 72 Read more »
Stocks on track for worst week since financial crisisUS stocks faced another sharp selloff on Thursday as worries about coronavirus mounted, with the three main indexes briefly dragged into correction territory and on track for their worst week since the financial crisis. The impact of financial crises is now felt beyond the regions where the crises occurred. There goes our 401k Blame SenSanders
Source: cnnbrk - 🏆 393. / 55 Read more »
Stocks tumble -- on pace for worst week since the financial crisisUS stocks tumbled once again on Friday, as coronavirus fears continue to mount. Equities are on track for their worst week since the financial crisis. I guess your plan for scaring the country is working... Corona virus czars are hard at work 😂😂😂 Maybe a LITTLE less glee, CNN?
Source: cnnbrk - 🏆 393. / 55 Read more »