US stocks took yet another nosedive this week, with the Dow Jones Industrial Average Index (DJIA) closing on Friday at more than 250 points in the red.
Traders attempted to get a handle on massive sell-offs brought on by concerns of the COVID-19 Corona-virus’s impact on the US and global economies.
The DJIA closed out the week with a fall of 256.50, and the S&P 500 dropped by 51.57 points. The Nasdaq Composite wrapped up the day with a loss of 162.98 points.
Despite the US government’s repeated attempts to quell fears over the increasing amounts of confirmed COVID-19 cases and associated fatalities, efforts such as cuts to interest rates and emergency spending bills, have not proven to be sufficient.
The Labor Department revealed Friday in a newly released report that the US economy had exceeded its expectations and added a total of 273,000 jobs in February; however, the news did little to swing trading figures into the green.
As of Friday afternoon, COVID-19 Corona-virus infections in the US have led to the deaths of at least 15 individuals – 14 of which were recorded in Washington state and one in California.
Recently, in the USA, new cases have emerged in Florida, Maryland, Pennsylvania and Colorado, among other states.
Sputnik / ABC Flash Point News 2020.