NEW YORK – Wall Street moderated losses this Friday in the closing 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 for fear of the coronavirus.
At the end of the operations on the New York Stock Exchange, the Dow fell 356.88 points and stood at 25,409.76, weighed down by more than two-thirds of its 30 listed companies, while the selective S&P 500 fell 0.83% and the market’s composite index Nasdaq managed to rally and remain flat, with a rebound of 0.01%.
In the last five days, the three indicators of the New York market have entered correction territory with weekly decreases between 10 and 13%, while the yield of the US 10-year Treasury bond fell on Friday to lows never seen before, 1,116%.
The coronavirus outbreak has been shutting down industrial centers, emptying stores and severely ruining travel around the world. More companies are warning investors that their finances will suffer due to 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, putting 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, following heavy losses in Europe and Asia. The drop is due to fears 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.