S stocks close with sharp declines

23 February, 2020 12:00 AM printer

NEW YORK: Wall Street continued to tumble Friday amid renewed fears that the virus outbreak in China will have a real impact on companies that depend on goods from the Asian manufacturing hub.

More than 2,200 people have died from the disease in China, which has infected more than 75,000 people there and over 1,000 abroad, fueling concerns the epidemic will become a bigger problem in neighboring economies, reports AFP.

As a growing list of companies warned of an expected hit to their bottom lines, investors seemed unwilling to hold onto shares and moved into safe havens.

The benchmark Dow Jones Industrial Average fell 0.8 percent to close the week at 28,992.41.