Coronavirus: Wall Street ends worst week since 2008, Dow closes down 350+ points

[PHOTO: Chief nurse Ma Jing holds a patient’s hand to comfort her in the ICU of Zhongnan Hospital of Wuhan University in Wuhan, Jan. 24, 2020. Xinhua/Xiong Qi/PRC]

Recession fears are spreading, along with COVID-19. The coronavirus outbreak and unknowns about preparedness caused massive financial losses this week.

The Dow closed down 350+ points.

The S&P 500 dropped for the seventh day in a row, and posted its biggest drop in a single week since the 2008 financial crisis.

More from Reuters:

The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could lead to a recession, although stocks cut losses at the end of the day’s session.

The Dow Jones Industrial Average .DJI fell 356.88 points, or 1.39%, to 25,409.76, the S&P 500 .SPX lost 24.7 points, or 0.83%, to 2,954.06 and the Nasdaq Composite .IXIC added 0.89 points, or 0.01%, to 8,567.37.

Read more:S&P 500 drops for seventh day, posts biggest weekly fall since 2008 crisis