Health Drop Stocks with Virus Concerns

Drop Stocks with Virus Concerns

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US stocks disappear on Friday for concern over the spread of coronavirus outbreaks.

Dow Jones Industrial Average fell by 260 points, or 0.9%, in evening trade. The S&P 500 and the Nasdaq Composite 1.1% fell.

Each of the three indexes opened with gains, but they pulled back after a second US health case of the virus that killed more than two dozen people in Asia who were killed, and who were sick and quarantined. in Wuhan city of China.

Energy was among the worst sectors of the S&P 500, which was raised by reducing crude oil prices. O. oil future fell 2.7% to $ 54.09 barrel, on the road for the fourth consecutive session losing, as there was a risk that a virus outbreak would disrupt travel.

Investors purchased assets seen as safe. Gold futures received 0.4% to $ 1572.10 per troy ounce. The return on the 10 year Exchequer note fell to 1.682%, from 1.739% on Thursday, as government bonds were raised by investors. Bond yields move in the opposite direction from prices. The utilities were the only one of the 11 S&P 500 sectors to be up for the day.

In corporate news, shares of

Intel

8% increase. The chip maker reported late Thursday’s fourth quarter earnings that hit expectations after rising in personal computer shipments and strong demand for chips to power data centers.

American Express

2.3% were received following the expectations of analysts carried out by the credit card company and gave an optimistic view of earnings for 2020.

Overseas, the all-terrain index Stoxx Europe climbed 600 600% of new economic data which eliminated a slowdown in the German manufacturing sector.

Preliminary data on purchasing manager indices, surveillance action on business activity, suggested that the manufacturing sector in the euro area – and Germany, in particular – was better than expected in January. In the region, factories saw that export orders start stabilizing after a long and deep decline, and while the manufacturing sector continued to contract, it did so at a slower pace than in previous months.

“The markets are responding to lower signs in German manufacturing,” said Mike Bell, global market strategies at Asset Management J.P. Morgan. “It’s very important because the big question is on everyone’s mind: Is there a risk of recession? And the most obvious danger was the downturn in European manufacturing. ”

Indexes decreased despite a sharp rise in Intel shares.

Photo:

servicing perez / Reuters

U.K stocks rose, with the FTSE index 100 climbing 1% after the latest purchasing managers index data than expected by analysts.

The readings are “the worst sign yet that the economy has turned a corner from the election,” and it is likely that the Bank of England would take cut rates later this month, analysts at Capital Economics said in a note.

In Asia, Nikkei 225’s benchmark closed Japan up 0.1% and Hang Seng Hong Kong completed nearly 0.2% of the day. Chinese and Korean markets were closed for public holidays.

New Chinese authorities are building a new hospital in Wuhan city after an outbreak of virus that has infected and killed more than 800 people, aiming to complete it within six days. Photo: CCTV

Write Avantika Chilkoti by [email protected] and Alexander Osipovich at [email protected]

Copyright © 2019 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1pdeb8

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