Here’s what happened to the stock market on Friday

- Advertisement -

Dow Jones Industrial Average falls 360 points

- Advertisement -
- Advertisement -
- Advertisement -

The Dow slid 360.91 points, or 1.69%, to close at 21,052.53. The S&P 500 closed 1.51% lower at 2,488.65. The Nasdaq Composite fell 1.53% to 7,373.08. Mounting worries over the coronavirus and a dismal jobs report pressured equities to end the week.

Spike in NY coronavirus deaths

New York Gov. Andrew Cuomo said deaths in the state rose by 562 in 24 hours to more than 2,900 for its biggest increase to date. Cuomo added the curve of confirmed cases “continues to go up,” noting there are now over 100,000 cases in the state. U.S. payrolls fell by 701,000 in March, marking the worst jobs report since 2009, while the unemployment rate jumped to 4.4%. Bottom line, investors are bracing for even more grim news on the virus and the economy.

American Express, IBM drive Dow lower

American Express was among the worst-performing Dow stocks, falling 3.99%. IBM also pressured the Dow, closing 3.33% lower.

What happens next?

Investors will watch out for any developments related to the coronavirus over the weekend.

Home of Science
Follow me

- Advertisement -




Bank of England governor defends rate hike ahead of looming recessionon August 5, 2022 at 7:15 am

Bank of England governor Andrew Bailey warns price rises would be long-term if Bank did not act.This video can not be playedTo play this...

Marwell Zoo break-in: Four charged after giraffe harassedon August 30, 2022 at 1:32 pm

Armed officers were sent to the zoo after reports of the break-in were shared on social media.Armed officers were sent to the zoo after...

Cost of living: Energy bills to rise 14 times faster than wages, says TUCon March 12, 2022 at 10:53 am

An analysis by the Trades Union Congress suggests bills will rise 14 times faster than pay this year.Image source, Getty ImagesEnergy bills are due...

Why You Should Trust Lawyer With Mesothelioma Cases

A mesothelioma attorney is an attorney who particularly specializes in representing mesothelioma patients or their surviving family members in a mesothelioma lawsuit. There are...

Cricket World Cup: Beating Australia would be ‘perfect’ for England – Sophie Ecclestoneon April 1, 2022 at 5:25 am

Spinner Sophie Ecclestone says it would be "perfect" if England beat Australia in the final of the Women's World Cup.
Home of Science
Follow me