Dow, Nasdaq drop triple-digits as coronavirus epidemic worries grow

U.S. stocks slumped Friday as the coronavirus epidemic emanating from China raised news concerns about travel, trade and expectations for global economic growth.

Need to Know: Here’s the daring way Europe’s largest fund manager is reacting to the coronavirus outbreak Delta DAL, -2.35% and American Airlines AAL, -3.48% halted flights to China after the U.S. government warned travelers to avoid China even though the World Health Organization refrained from recommending curbs on travel or trade when declaring a global health emergency on Thursday.

The 10-year Treasury note yield TMUBMUSD10Y, -3.46% slipped to 1.536% on Friday and is down more than 14 basis points this week. The drop of the benchmark maturity’s yield below the 3-month Treasury bill rate TMUBMUSD03M, -0.50%, inverting the so-called yield curve, has also deepened worries that the U.S. is exposed to a global growth shock.

The January Chicago purchasing manager index slumped to 42.9, from the previous month’s 48.9, an indication of the lingering weakness in manufacturing. This month’s consumer sentiment index reading rose to 99.8, slightly above analysts’ consensus forecast of 99.1.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks slide at open amid coronavirus worries as Amazon limits Nasdaq lossesStocks see a lower start on Friday, with pressure tied to continued concerns over the spread of a coronavirus outbreak that began in China and a round of... Here's our analysts take on this situation:
Source: MarketWatch - 🏆 3. / 97 Read more »

Wall Street slides on China virus concerns, Facebook earningsThe main U.S. stock indexes are on course for their second weekly declines as the death toll from China’s epidemic climbed to 170, spreading to over 15 countries, disrupting global travel and leading several companies to suspend operations in China why do I feel like if there was ever a zombie apocalypse, there'd be a headline 'how will the end of humanity effect stocks?' U. S. Stocks best in the World
Source: Reuters - 🏆 2. / 97 Read more »

Stocks slide at open amid coronavirus worries as Amazon limits Nasdaq lossesStocks see a lower start on Friday, with pressure tied to continued concerns over the spread of a coronavirus outbreak that began in China and a round of... Here's our analysts take on this situation:
Source: MarketWatch - 🏆 3. / 97 Read more »