2:58 pm: Final hour of trading: Stocks tank to end January
With roughly one hour left of trading let in Friday's session, the major averages were headed for steep losses that are wiping out the Dow and S&P 500's gains for the month. The Dow is down more than 550 points, or nearly 2%. The S&P 500 has lost more than 1.5%. The Dow was headed for its worst day since August while the S&P 500 was on pace to post its biggest one-day fall since October. —Oil fell 1.1% on Friday, capping off a week that saw prices slide nearly 5%. It was U.S.
New York Daily News updated its earlier reports to show that the New York City's first coronavirus case is not confirmed. Dow rose slightly from its lows.The major averages hit their lows of the day as the New York Daily News reported New York City's first coronavirus case. CNBC could not confirm the report.The Dow hit its session low, now down more than 500 points, as the concerns on the fast-spreading coronavirus escalated. The S&P 500 also turned red on the month, last down 1.6%.
Gold prices have gained about 4% in January and are headed for its best month in five as concerns about an economic slowdown from the Chinese coronavirus pushed investors into the safe haven asset. The World Health Organization on Thursday declared the coronavirus outbreak a global emergency, causing Wall Street firms like Goldman Sachs to downgrade this quarter's growth forecast. Spot gold rose 0.65% to $1,584.1 per ounce on Friday.
China is already sucesfully treating coronavirus 2019 with hiv medication, Hopefully scientist can start with the hiv medication in search of a vaccine.
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