Stocks slide at open amid coronavirus worries as Amazon limits Nasdaq losses

U.S. benchmark stock indexes fell at the open Friday, as the ongoing coronavirus epidemic emanating from China disrupts travel and trade and weighs on expectations for global economic growth.

Need to Know: Here’s the daring way Europe’s largest fund manager is reacting to the coronavirus outbreak The U.S. stock rebound on Thursday came after the World Health Organization declared the outbreak a global emergency, with analysts tying the bounce to relief over the lack of a recommendation by the body to restrict travel to or trade with China. This brief optimism, however, gave way after the U.S. and Japan nevertheless advised its citizens from travelling to the second largest economy in the world.

The 10-year Treasury note yield TMUBMUSD10Y, -3.24% slipped to 1.551% on Friday and is down around 13 basis points this week. The drop of the benchmark maturity’s yield below the 3-month Treasury bill rate TMUBMUSD03M, -0.67%, inverting the so-called yield curve, has also deepened worries that the U.S. is exposed to a global growth shock.

Meanwhile the U.S. consumer spending rose modestly in December to cap off a decent holiday shopping season, but the increase in outlays in 2019 was the smallest in three years, the government reported.

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