NEW YORK (Pakistan Point News / Sputnik - 29th February, 2020) US stocks closed with their biggest weekly losses since the 2008 financial crisis, as Wall Street's three major indexes each fell about 12 percent or more on the week, amid fears of a global economic slowdown from the coronavirus crisis.
The Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, fell 12.3 percent, or more than 3,500 points, on the week ending Friday. The S&P 500, a barometer for the top 500 US stocks, suffered a weekly drop of 11.5 percent, or more than 380 points. The tech-heavy Nasdaq Composite dropped 11 percent on the week, or more than 1,000 points.
