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Stocks Suffer Worst Week Since Financial Crisis Amid Coronavirus Fears - MW

S&P 500 Change this week

The S&P 500 had the worst week since 2008.
On Friday, stocks fell for the seventh consecutive day, as the S&P 500 fell about 0.8%, which lost more than 11% for the week. It was the worst weekly decline in stocks since the 2008 financial crisis. In early October of that year, the S&P 500 lost around 18%.

On Friday, the Dow Jones industry average fell more than 1%.

Sales are mainly fueled by fears that virus prevention measures will hinder corporate profits and economic growth, and by fears of worsening disease. A few days of sales dragged world class stock indices into a correction - a drop of 10% or more is considered a measure of extreme pessimism.

In Europe, the British FTSE 100 fell by more than 3% and Dax in Germany by more than 4%. In Asia, Nikkei 225 in Japan fell 3.7%, KOSPI in South Korea fell 3.3% and Shanghai Composite in China 3.7%.

Here's how the major global indices performed this week:

  • S&P 500 in the United States: ⬇️ 11%
  • Dow Jones in the United States: 12%
  • FTSE 100 in the UK: ⬇️ 11%
  • DAX in Germany: 12%
  • KOSPI in Korea: 8%
  • Hang Seng index in Hong Kong: 4%
  • Nikkei 225 in Japan: ⬇️10% 


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