Dow drops more than 900 points on Friday, but still finishes higher for the week; European markets close lower as investors monitor coronavirus and stimulus measures; BELEX ended Friday with minor losses; Fitch retains Serbian rating at BB+ with stable outlook
Stocks fell sharply on Friday, giving back some of the strong gains experienced in the previous three days to cap off another volatile week on Wall Street. Sentiment took a hit as investors focused back on the coronavirus outbreak as the U.S. became the country with the most confirmed cases.
The Dow Jones Industrial Average dropped 915.39 points, or 4.1%, to 21,636.78. The S&P 500 slid 3.4% to 2,541.47 while the Nasdaq Composite closed 3.7% lower at 7,502.38.
Boeing dropped 10.3% to lead the Dow lower. Chevron and Disney each fell more than 8%. Boeing fell after Treasury Secretary Steven Mnuchin said the airplane maker won’t seek a government bailout. Energy and tech were the worst-performing sectors in the S&P 500 as they dropped 6.9% and 4.6%, respectively. Energy was pressured by a 4.8% drop in crude prices.

European stocks closed lower Friday as investors monitored the spread of coronavirus while policymakers scrambled to agree on a unified response. The pan-European Stoxx 600 closed down 3.2%, with autos and travel and leisure stocks dropping more than 5.7% to lead losses as all sectors and major bourses slid into negative territory. European Union leaders on Thursday failed to agree on how best to shore up economies hammered by the coronavirus.
In corporate news, Volkswagen has extended its halt to production in Germany until April 9 as it deals with the fallout from the outbreak.

Serbian BELEX15 ended Friday with smaller loss of 0.16%, while overall trade volume was very low at EUR 43k. NIS was the most traded with slightly higher then RSD 2m in volume, while its stock price was down 0.52%. Major gainer was Jedinstvo Sevojno, with 5.4% jump, while Metalac saw 1.1% advance. Fitch rating agency has confirmed Serbian rating at BB+ with stable outlook, despite ongoing covd-19 crisis and later repercussions, Ministry of Finance reported. State of emergency has been expected to last at least two months from now.
Source: CNBC, Ilirika