The three main U.S. inventory averages keep within the purple amid renewed concern over the financial fallout because the coronavirus spreads exterior of China.
U.S. well being officers are preparing for the covid-19 to turn into a pandemic, the Facilities for Illness Management and Prevention stated right this moment.
“We’re not seeing group unfold right here in the USA, but, nevertheless it’s very attainable, even possible, that it might finally occur,” stated Dr. Nancy Messonnier, director of the CDC’s Nationwide Heart for Immunization and Respiratory Ailments,
It did not assist that IHS Markit’s February Flash U.S. PMI composite fell greater than anticipated, with service sector output falling for the primary time in 4 years.
The Nasdaq drops 1.5%, the S&P 500 declines 0.9%, and the Dow falls 0.7%.
Treasurys rally, with the 10-year yield falling nearly 6 foundation factors to 1.46%.
Crude oil falls 1.0% to $53.35 per barrel; gold advances 1.7% to $1,647.60 per ounce.
The Cboe Volatility Index, additionally known as the worry index, jumps 8.6% to 16.89.
Amongst S&P 500 sectors, data expertise (-2.0%) and vitality (-1.4%) led the decline, whereas shopper staples (+0.3%), actual property (+0.3%), and utilities (+0.2%) have been the one sectors on the rise.
Throughout the Atlantic, the Stoxx Europe 600 closed down 0.5%, the FTSE 100 slipped 0.4%, the DAX fell 0.6%.
For the week, Stoxx Europe 600 -0.6%, the FTSE 100 -0.1%, and the DAX -1.2%.