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.
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'Correction territory'. We'll rebound Monday. -Donald Trump, probably
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