Following three days of big gains, stocks slid across the board Friday amid news of a sharp spike in confirmed coronavirus cases. Johns Hopkins University reported the U.S. had 85,000 confirmed cases – the highest number in the world. Despite Friday’s losses, the Dow achieved its best weekly percentage gain since 1938, and the S&P attained its best weekly percentage gain since 2009. For the week, the Dow rose 12.84 percent to close at 21,636.78. The S&P gained 10.28 percent to finish at 2,541.47, and the NASDAQ climbed 9.06 percent to end the week at 7,502.38.
Despite the administration’s relief measures, stocks plunged to a three-year low Friday. Contributing factors included New York State’s stay-at-home order and a reversal in crude prices. The three major indexes had their worst weekly falls since the financial crisis in 2008. For the week, the Dow fell 17.29 percent to close at 19,173.98. The S&P lost 14.95 percent to finish at 2,304.92, and the NASDAQ dropped 12.62 percent to end the week at 6,879.52.
Stocks enjoyed their best day since 2008 and gained back a chunk of Thursday’s steep losses after President Trump declared a national emergency to combat the coronavirus. Although the indexes spiked over 9 percent on Friday, they still suffered serious losses for the week. For the week, the Dow fell 10.24 percent to close at 23,185.62. The S&P lost 8.73 percent to finish at 2,711.02, and the NASDAQ dropped 8.14 percent to end at 7,874.88.
The U.S. added 273,000 jobs in February, and the unemployment rate dropped to 3.5 percent. But despite the strong employment news, stocks fell Friday as the number of confirmed coronavirus cases topped 100,000. Still, at the close of a roller-coaster week, the three major indexes had eked out small weekly gains. For the week, the Dow rose 1.79 percent to close at 25,864.78. The S&P gained 0.65 percent to finish at 2,972.37, and the NASDAQ climbed 0.12 percent to end the week at 8,575.62.
Stocks plunged Friday and closed the worst week since the financial crisis amid growing concerns about the impact of the coronavirus. The World Health Organization issued a warning that global level risks were growing as the virus continued to spread across multiple countries. Meanwhile, Fed Chairman Jerome Powell said the central bank would “act as appropriate” to support the economy. For the week, the Dow fell 12.26 percent to close at 25,409.36. The S&P lost 11.44 percent to finish at 2,954.22, and the NASDAQ dropped 10.52 percent to end the week at 8,567.37.