NEW YORK – Wall Street moderated losses this Friday in the last minutes of the session and closed in mixed territory, with a 1.36% cut in its main indicator, the Dow Jones Industrials, after a volatile day with which it sealed its worst week since the 2008 financial crisis due to fear of coronavirus.
At the end of operations on the New York Stock Exchange, the Dow fell 356.88 points to 25,409.76, weighed down by more than two thirds of its 30 listed, while the selective S&P 500 fell 0.83% and the composite market index Nasdaq managed to overcome and remain flat, with a rebound of 0.01%.
In the past five days, the three New York market indicators have entered correction territory with weekly retracements between 10 and 13%, while the yield on the 10-year US Treasury bond fell to unseen lows on Friday, of 1,116%.
The coronavirus outbreak has been closing industrial centers, emptying stores and severely ruining travel around the world. More companies are warning investors that their finances will be affected by disruptions in supply chains and sales.
Governments are taking increasingly drastic measures as they strive to contain the virus.
Shares opened sharply lower on Friday, setting the market on track for its worst week since October 2008, during the global financial crisis.
The main US stock indicators fell more than 3% in the morning, before easing the decline after noon, after heavy losses in Europe and Asia. The drop is due to fear that the virus that emerged in China will derail the world economy.
Investors continue to buy low-risk assets like bonds, sending returns to record lows.