INO:
Dow tumbles 900 points to end Wall Street’s worst week since 2008; European stocks close higher as monetary and fiscal measures mount; travel and leisure up 9%
Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus’ economic blow.
The Dow Jones Industrial Average closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The S&P 500 slid 4.3% to 2,304.92. The Nasdaq Composite closed 3.8% lower at 6,879.52 after jumping more than 2%.
European markets closed higher Friday, following a volatile week as central banks and governments around the world adopted a “whatever it takes” approach to mitigating the economic hit from the coronavirus pandemic.
The pan-European Stoxx 600 provisionally closed around 1.4% higher, paring earlier gains. Travel and leisure stocks surged over 9% to lead gains after taking a hammering due to coronavirus shutdowns, while media stocks bucked the upward trend to fall more than 1%.
Source: CNBC, Ilirika