· Dow tanks more than 950 points as Wall Street’s roller-coaster week continues
Stocks plunged on Thursday, erasing most of the steep gains in the previous session, as markets remained highly volatile in the face of the fast-spreading coronavirus.
The Dow Jones Industrial Average ended the day 969.58 points, or 3.5%, lower at 26,121.28 after tanking nearly 1,150 at its session low. The S&P 500 dropped 3.3%, or 106.18, to 3,023.94 and the Nasdaq Composite fell 3.1%, or 279.49, to 8,738.60. All 11 S&P sectors finished the day in the red. Stocks turned sharply lower as the 10-year Treasury yield fell to an all-time low below 0.9%.
Fears about the coronavirus disrupting the global economy continued to grip Wall Street as countries around the world extended quarantines and travel restrictions. California declared a state of emergency after a coronavirus-related death and 53 confirmed cases in the state. The number of infections in New York also doubled overnight to 22 as the state ramps up its testing.
That angst fueled investor demand for safer assets like U.S. Treasurys and gold. The tumbling yields kept pressure on bank stocks, which led the major indexes lower. JPMorgan and Bank of America both dropped about 5%.
· European stocks close 1.4% lower amid virus volatility; Capita plunges 38%
European stocks closed lower Thursday, continuing a week of wild volatility for global markets amid fears over the coronavirus outbreak.
The pan-European Stoxx 600 closed around 1.4% lower provisionally. The index had earlier fallen as much as 2.8%. Basic resources and autos were among the worst performing sectors.
· Asia stocks drop, with Japan leading losses, in week of market gyrations
Stocks in Asia declined in Friday morning trade as volatility continues to grip the markets amid investor concerns over the global coronavirus outbreak.
In Japan, the Nikkei 225 dropped 1.69% in early trade while the Topix index fell 1.93%. South Korea’s Kospi also shed 1.52%.
Stocks in Australia fell in morning trade, with the S&P/ASX 200 dropping more than 1.5% as the sectors largely declined. Australia retail sales data for January is set to be released around 8:30 a.m. HK/SIN on Friday.
Overall, the MSCI Asia ex-Japan index traded 0.56% higher.
Reference: CNBC, Reuters
Thai
Eng