Stocks Crushed Again as Selloff Intensifies, Fed Says It Will Act ‘Appropriately’

  1. Stocks extended declines Friday amid the worst week for world stocks since the 2008 financial crisis.
  2. Coronavirus update: 2,788 deaths in China and 78,824 confirmed cases. Globally, there are 2,867 deaths and 83,867 confirmed cases.
  3. Clorox is Real Money’s Stock of the Day. The disinfectant maker has stepped up production on demand for its hand sanitizers and disinfectants amid the virus outbreak.

Stocks extended declines Friday amid the worst week for world stocks since the 2008 financial crisis as investors prepared for what could be a global coronavirus pandemic.

The Dow Jones Industrial Average slumped 944 points, or 3.66%, to 24,822, the S&P 500 was down 3.1% and the Nasdaq fell 2.48%. At one point Friday the blue-chip Dow had fallen more than 1,000 points.

Leading the Dow lower Friday were Boeing (BA) – Get Report, McDonald’s (MCD) – Get Report and JPMorgan Chase (JPM) – Get Report.

Stocks in Asia closed lower and European stocks fell 3.8% on the day and 12.7% for the week following a drop of nearly 1,200 points for the Dow in Thursday’s session, the second time this week the blue-chip index has slumped more than 1,000 points.




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