World stocks slip as coronavirus fears spur safe-haven buying


On Wall Street, the Dow Jones Industrial Average fell 227.57 points, or 0.78%, to 28,992.41. The S&P 500 lost 35.48 points, or 1.05%, to 3,337.75 and the Nasdaq Composite dropped 174.38 points, or 1.79%, to 9,576.59. MSCI's gauge of stocks across the globe shed 0.75% and emerging marketstocks lost 1.05%. The pan-European STOXX 600 index lost 0.49% as shares fell from record highs on Thursday. A raft of disappointing earnings added to fears about the global impact of the coronavirus outbreak.

NEW YORK: Global equity markets slumped on Friday as the fast-spreading coronavirus drove investors into safe havens, with gold hitting a fresh seven-year high and the yield on the 30-year U.S. Treasury bond sliding to an all-time low.

The virus spread to hundreds of people in Chinese prisons, contributing to a jump in reported cases beyond the epicenter in Hubei province, including 100 more in South Korea.

Get 30% off with our ads free Premium Plan

Monthly Plan

RM9.73/month

Annual Plan

RM8.63/month

Billed as RM103.60/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

CPO futures likely to trade lower on profit-taking next week
Big wins for billionaire Ambani in Disney tie-up
Hektar-REIT focuses on strengthening portfolio
Timber furniture sales cool as demand softens in US, Europe
CTOS eyes new overseas markets to drive growth
HAS inks deal for five new Airbus helicopters
LBC rates for residential, commercial, industrial, hotel uses raised
MoU to improve Singapore, M’sia business ties
The maverick value investor
Wall Street hunts for more AI gold post-Nvidia rally

Others Also Read