Advertisement
UK markets open in 4 hours 58 minutes

  • NIKKEI 225

    37,803.30
    -158.50 (-0.42%)
     

  • HANG SENG

    16,255.44
    +3.60 (+0.02%)
     

  • CRUDE OIL

    82.75
    +0.06 (+0.07%)
     

  • GOLD FUTURES

    2,382.00
    -6.40 (-0.27%)
     

  • DOW

    37,753.31
    -45.66 (-0.12%)
     

  • Bitcoin GBP

    49,481.39
    -1,933.15 (-3.76%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • NASDAQ Composite

    15,683.37
    -181.88 (-1.15%)
     

  • UK FTSE All Share

    4,273.02
    +12.61 (+0.30%)
     
Money:

5 ways to get help with childcare costs

Childcare is eye-wateringly expensive, here are some ways to save money

Stocks - S&P Posts First Loss in Three Weeks Amid Rout in Chip Stocks

Investing.com
·2-min read

By Yasin Ebrahim

Investing.com – The S&P closed above the lows of day on Friday, but was unable to prevent its first weekly loss in three weeks as investors fretted over the coronavirus’ impact on global growth.

The S&P 500 fell 1.05%, Nasdaq Composite fell 1.79% and the Dow Jones Industrial Average fell 0.78%.

With the spread of the coronavirus appearing to have picked up pace outside of China, traders were forced to consider whether the impact of the virus will be worse than feared.

South Korea recorded 100 new infections, the World Health Organization said Iran now has its first case of the illness and U.S. officials confirmed 34 cases of novel coronavirus in the country.

ADVERTISEMENT

In China, meanwhile 800 new cases were reported overnight, taking the total to 75,000 confirmed cases and the death toll above 2,000.

Tech and energy were the worst hit on worries about a longer-than-expected disruptions to global supply chains and weaker Chinese oil demand.

Pacing the declines in tech, chip stocks fell 3%, pressured sharp decline in Advanced Micro Devices (NASDAQ:AMD), Nvidia (NASDAQ:NVDA) and Micron Technology (NASDAQ:MU).

Dropbox (NASDAQ:DBX) and Deere (NYSE:DE), however, bucked the trend on quarterly results that topped estimates.

Dropbox soared 20% as CEO Drew Houston said the company would turn a profit by the end of the year, following better-than-expected fourth-quarter results.

Deere, meanwhile, climbed 7% after topping estimates on both the top and bottom lines, with CEO John May touting optimism that weakness in the U.S. farm sector was reaching a bottom.

On the economic front, the U.S. services sector unexpectedly contracted this month, raising fears about the strength of the overall economy.

The risk-off trade triggered a bid in more defensive concerns of the market as consumer staples ended the day in the green.

In deal news, eBay (NASDAQ:EBAY) rose 1% on a report the online marketplace is looking to offload its classified-ads business, The Wall Street Journal reported, citing people familiar with the matter.

Related Articles

Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT

U.S. SEC probes Altria's investment in Juul: WSJ

Wells Fargo to pay $3 billion to U.S. authorities to resolve probe into fake accounts