Stock Market Overview
U.S. Stocks Finish the Week Sharply Lower on Concern the China Coronavirus May Spread to a Global Pandemic
The S&P 500 Index ($SPX) on Friday closed down -0.82%, the Dow Jones Industrials Index ($DOWI) closed down -1.39%, and the Nasdaq 100 Index ($IUXX) closed up +0.30%.
U.S. stock indexes on Friday extended their sharp week-long sell-off as the S&P 500 posted a 6-month low, the Dow Jones Industrials dropped to an 8-3/4 month low, and the Nasdaq 100 fell to a 3-3/4 month low. This week's plunge in stock indexes accelerated after U.S. health authorities late Wednesday said they found the first case of the coronavirus in the U.S. that does not have ties to a known outbreak. That raised concern about community spread, where the virus begins circulating freely among people outside of quarantines or known contact with other patients. Confirmed cases of the coronavirus have now risen above 83,000 in more than 40 countries, with more than 2,800 deaths. The World Health Organization said Thursday night that the coronavirus has the potential to become a pandemic and is at a "decisive" sta... Read more
TOKYO (AP) — The coronavirus outbreak's impact on the world economy grew more alarming on Saturday, even as President Donald Trump denounced criticisms of his response to the threat as a “hoax" cooked up by his political enemies.
LOS ANGELES (AP) — Joe Coulombe envisioned a new generation of young grocery shoppers emerging in the 1960s, one that wanted healthy, tasty, high-quality food they couldn’t find in most supermarkets and couldn’t afford to buy in the few high-end gourmet outlets.
GENEVA (AP) — The Geneva auto show was canceled after the Swiss government put an immediate ban Friday on all large events in order to halt the spread of the new coronavirus.
WASHINGTON (AP) — As global markets plunged amid growing fears about the coronavirus outbreak, President Donald Trump and his allies pulled from a familiar playbook Friday and blamed others for the slide. It's a challenging sell for a president who has lashed his fate to Wall Street like no other.
LOS ANGELES (AP) — Family says Joe Coulombe, founder of Trader Joe’s grocery chain, has died at age 89.
BEIJING (AP) — China’s manufacturing plunged in February by an even wider margin than expected after efforts to contain a virus outbreak shut down much of the world’s second-largest economy, an official surveyed showed Saturday.