U.S. stocks toppled once again on Friday as the number of coronavirus infections topped 100,000 worldwide, adding to fears any economic fallout will get worse. Despite some staggering falls this week, stocks actually had an up week
NEW YORK - U.S. stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified, though Wall Street’s major indexes ended well above their session lows.
Shares of cruise operators Carnival Corp and Royal Caribbean Cruises Ltd slid after Reuters reported that the administration of President Donald Trump was considering ways to discourage U.S. travelers from taking cruises. Carnival shares fell 2.6%, and Royal Caribbean shares dropped 1.2%. Data showing a robust pace of hiring in February largely went ignored, given that the data captured little of the impact from the coronavirus. A sharp downturn in later economic and corporate earnings data would likely strike a further blow to U.S. markets, analysts said.
Starbucks Corp shares declined 1.1% after the coffee chain said it expected its sales in China in the quarter ending in March to fall by 50% in stores open for at least a year.
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