Wall Street sinks at close on coronavirus fears

Friday, 31. January 2020 22:02

Wall Street equities finished trading deeply in the red on Friday fueled by rising coronavirus concerns. Earlier, the stock markets seemingly reacted to a New York media report of a potential case of the new coronavirus in Queens, sending the Dow tumbling over 600 points. A city’s health official, however, denied the reports, saying there are no confirmed cases of the disease in the Big Apple. Before the market closed, the US Health Secretary Alex Azar announced a national public health emergency over the deadly virus outbreak. He revealed the country will ban entry to foreign nationals who have been to China in the past two weeks.

Meanwhile, investors are anticipating the United Kingdom’s departure from the European Union later today, at 5:00 pm ET.

The Dow Jones Industrial Average, which continued to fall during Friday’s trading session, ended the week 2.09% in the red, with Dow Inc. leading the loss and falling nearly 5%. Nasdaq 100 declined 1.58%, led by ASML Holding NV's drop of almost 5%, while the S&P 500 stopped trading 1.77% down, as equities Broadridge Financial Solutions Inc. decreased 8%.

The euro traded 0.53% higher against the dollar, going for 1.10906 at 03:59 pm ET.

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Breaking the News / NL