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S&P falls for seventh day, suffers biggest weekly plunge since 2008 crisis - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could push the economy into recession.

A screen shows the Dow Jones Industrial Average during trading on the floor at the New York Stock Exchange in New York, US

could push the economy into recession, although stocks regained some ground right at the end of a volatile session.The Nasdaq managed to eke out a 0.01% gain after plunging as much as 3.5% during the session. After falling as much as 4.2% – more than 1,000 points – the Dow ended the day down 1.4%. On Thursday, all three indexes had confirmed corrections by finishing more than 10% below their closing record highs.

But investors had spent most of the day dumping equities for the safety of US Treasuries, pushing 10-year yields to their fourth record low this week.

 

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