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Markets

US stocks suffer worst weekly losses since Lehman shock

Fed chairman signals possible rate cut in March

NEW YORK -- New York stocks extended their losing streak Friday to finish their worst weekly sell-off since the 2008 financial crisis, with the Dow Jones Industrial Average shedding 12% for the week, as investor anxiety intensified over the fallout from the new coronavirus.

The Dow Jones Industrial Average plunged more than 1,000 points soon after the opening bell but pared its losses during the day. The benchmark index fell 357.28 points, or 1.39%, to 25,409.36. The S&P 500 lost 24.54 points, or 0.82%, to 2,954.22 and the Nasdaq Composite added 0.89 point, or 0.01%, to 8,567.37.

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