Wall Street closes with its worst week since October 2008

UNITED STATES (OBSERVATORY NEWS) — Stocks fall again in another wild day, leaving Wall Street with its worst week since October 2008 as virus fears spread. Follow our coverage of the financial markets.

The two key indexes of the New York Stock Exchange fell significantly on Friday following the trading session amid concerns about the spread of the new coronavirus. This is evidenced by data posted on the website of the trading platform.

The American industrial Dow Jones index fell 357.28 points (1.39%) and settled at around 25,409.36 points.

The S&P 500 index, which includes the 500 largest companies in the US market, lost 24.54 points (0.82%) and was at the level of 2954.22 points.

The Nasdaq electronic exchange index, on the contrary, grew by 0.89 points (0.010%), to 8567.37 points.

According to The Wall Street Journal , the current week has become the most unlucky for the US stock market since the 2008 financial crisis. The fall of the Dow Jones for the week was 12.4%, S&P 500 – 11.5%, Nasdaq – 10.5%. At the same time, stock prices of more than 95% of the companies represented in the S&P 500 listing fell by more than 10% compared with the highs.

On Thursday, the Dow Jones fell 1190.95 points (4.42%), to 25 766.64 points. On Monday and Tuesday, sessions also closed with a significant drop in the indices. On Wednesday, trading ended in different directions.

Texas Light Oil (WTI) has fallen in price – by 16:15 the time of the US east coast (00:15 Saturday Moscow time) the price of energy supplies in April fell by $ 1.03 (2.22%), to $ 45.31. This figure was the lowest in almost one calendar year.

The outbreak caused by the new coronavirus disease was recorded at the end of December 2019 in the most populous city of Central China – the 12 millionth Wuhan. The World Health Organization recognized it as an emergency of international proportions, describing it as an epidemic with many foci.

Outside of the PRC, infections were detected in 52 countries, including Russia. The Chinese authorities recorded 2788 deaths in the country, more than 36.1 thousand people recovered, the number of people infected during the entire spread of the virus exceeded 78.8 thousand.


This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: [email protected]

Stay connected with News Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.