BUSINESS Dow falls 2.6% at the open, shrugging off good US jobs data

BUSINESS

Dow falls 2.6% at the open, shrugging off good US jobs data

AFP

22:35, March 06, 2020

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File photo

Wall Street stocks tumbled in opening trading Friday, shrugging off strong US jobs data as investors fixate on the economic toll from the coronavirus. 

A couple of minutes into trading, the Dow Jones Industrial Average stood at 25,398.19, down 2.8 percent or around 725 points.

The broad-based S&P 500 also shed 2.8 percent to 2,938.56, while the tech-rich Nasdaq Composite Index sank 2.7 percent to 8,503.77.

Demand remained elevated for secure assets such as bonds, with the yield on the 10-year US Treasury note falling to a fresh all-time low.

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