Stocks, Dow Sink As Coronavirus Fears Continue Driving Economic Uncertainty

Stocks, Dow Sink As Coronavirus Fears Continue Driving Economic Uncertainty

U.S. indexes fell 1.8% following steep losses in Europe and Asia.. The rout is driven by fear that the virus that emerged in China will derail the global economy.. Global stock markets plunged further Friday on spreading fears over the impact of the new coronavirus, with some indexes set to close out their worst week since the depths of the financial crisis in 2008.. Wall Street looked set for more losses a day after enduring its biggest one-day drop in nine years.. Markets in China and Hong Kong had been doing relatively well despite virus fears.. The index is down 12% from its all-time high a week ago, putting the market into what traders call a correction.. The market's sharp drop this week partly reflects increasing fears among many economists that the U.S. and global economies could take a bigger hit from the coronavirus than previously thought, weakening consumer confidence and depressing spending.. The Dow shed 1,190.95 points on Thursday, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1%.. U.S. bond prices soared Thursday as investors fled to safe investments..