NSTbusiness The Dow Jones Industrial Average fell 913.21 points, or 4.55 per cent, to 19,173.98, the S&P 500 lost 104.47 points, or 4.34 per cent, to 2,304.92 and the Nasdaq Composite dropped 271.06 points, or 3.79 per cent, to 6,879.52.
The Dow Jones Industrial Average fell 913.21 points, or 4.55 per cent, to 19,173.98, the S&P 500 lost 104.47 points, or 4.34 per cent, to 2,304.92 and the Nasdaq Composite dropped 271.06 points, or 3.79 per cent, to 6,879.52.All three major indexes registered their biggest weekly declines since Oct 2008, although the Cboe Volatility index - Wall Street’s fear gauge - ended the day down at 66.04, in what some investors saw as a sign that selling may subside.
New York Governor Andrew Cuomo early on Friday ordered all non-essential workers to stay home. It followed on the heels of California’s statewide “stay at home” order issued late on Thursday. Traders, some in medical masks, work on the floor of the New York Stock Exchange on March 20, 2020 in New York City. Trading on the floor will temporarily become fully electronic starting on Monday to protect employees from spreading the coronavirus. The Dow fell over 500 points on Friday as investors continue to show concerns over COVID-19. Spencer Platt/Getty Images/AFP
“Quadruple witching” added to choppy trading on Friday, with investors unwinding positions in futures and options contracts before their expiration.
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