US, WASHINGTON (ORDO NEWS) — Dow tumbles 900 to end Wall Street’s worst week since 2008.
The S&P 500 falls 15% in its biggest weekly drop since October 2008. U.S. stocks fall 4.4% to their lowest in three years.
Trading on the New York Stock Exchange closed on Friday with a decrease in the main indexes by 3-4% amid concerns about the spread of the new coronavirus. The relevant data is given on the website of the trading platform.
The American industrial Dow Jones index fell 913.21 points (4.55%) and settled at 19173.98 points. The S&P 500 Index, which includes the 500 largest companies in the US market, fell 104.47 points (4.34%) to 2304.92 points. The Nasdaq electronic exchange index fell by 271.06 points (3.79%), to 6879.52 points.
WTI crude oil fell on Friday by $ 5.24 (20.89%) and is trading at $ 19.84 per barrel.
On Thursday, the key indices on the New York Stock Exchange declined at the beginning of the trading session, and by the end of it rose slightly. The Wall Street Journal notes that quotations should not be taken as a sign of a sharp improvement in the markets. “Any slight recovery on the stock exchange will last a maximum of a day, because the underlying cause of the crisis – the virus – has not disappeared yet,” the publication quoted the words of a specialist from the Dutch financial company ING Group.
The outbreak caused by the new coronavirus disease was recorded at the end of 2019 in Central China, later spreading to more than 140 countries and was recognized by the World Health Organization (WHO) as a pandemic. According to the latest data, over 240 thousand people have been infected in the world, more than 10 thousand deaths have been recorded. In the United States, according to Johns Hopkins University, which estimates based on country authorities, WHO, and other official sources, the number of coronavirus infections rose to 16,638, at least 216 people died. More than 50% of cases of infection are recorded at this stage in the states of Washington, California and New York.
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The article is written and prepared by our foreign editors from different countries around the world — material edited and published by Ordo News staff in our U.S. newsroom press.