Stocks slid in a broad sell-off Friday amid concern the spread of China’s coronavirus could disrupt travel and slow global economic growth. After the Centers for Disease Control and Prevention confirmed the second case of the virus in the U.S., the S&P saw its biggest one-day percentage drop in more than three months. For the week, the Dow fell 1.01 percent to close at 28,989.73. The S&P lost 0.63 percent to finish at 3,295.47, and the NASDAQ dropped 0.45 percent to end the week at 9,314.91.
All three major indexes hit record highs Friday amid positive economic news on several fronts. In the middle of the week, the U.S. and China signed a limited trade deal. End-of-year reports showed U.S. housing starts grew by nearly 17 percent in December (a 13-year high), weekly jobless claims were better than forecast and China’s economic growth matched expectations. For the week, the Dow rose 1.84 percent to close at 29,348.10. The S&P gained 1.99 percent to finish at 3,329.62, and the NASDAQ climbed 2.29 percent to end at 9,388.94.
Middle East turmoil created a volatile week on Wall Street, but investors appeared to shake off geopolitical concerns on Friday as the Dow climbed above 29,000 for the first time. However, a decent but weaker-than-expected jobs report dampened enthusiasm, causing stocks to fall. Despite the disappointment, the major indexes posted weekly gains. For the week, the Dow rose 0.67 percent to close at 28,823.77. The S&P gained 0.98 percent to finish at 3,265.35, and the NASDAQ climbed 1.75 percent to end the week at 9,178.86.
Stocks fell across the board Friday after a U.S. air strike in Iraq killed Iran’s top military commander and escalated Middle East tensions. Crude oil prices surged in the wake of the strike. Along with geopolitical concerns, data showed U.S. factory activity shrank in December. For the week, the Dow was unchanged and closed at 28,634.88. The S&P lost 0.12 percent to finish at 3,234.85, and the NASDAQ rose 0.16 percent to end the week at 9,020.77.