New York, Feb 29 (AFP/APP): Wall Street stocks suffered another downbeat session on Friday to conclude the worst week since the 2008 financial crisis amid worries the coronavirus will derail global economic growth. The Dow Jones Industrial Average finished at 25,409.36, down 1.4 percent, but about 725 points above its session lows. The broad-based S&P 500 shed 0.8 percent to 2,954.22, while the tech-rich Nasdaq Composite Index ended essentially flat at 8,567.37. The Dow and S&P 500 were deeply negative most of the day, but cut their losses after Federal Reserve Chair Jerome Powell released a statement saying the US economy stayed “strong” but vowing to “use our tools” to provide support. Both the Dow and S&P 500 have fallen over the last seven days, a period during which the coronavirus has expanded from a China-centered problem to a global worry following outbreaks in South Korea and Italy and cases in dozens of countries. Karl Haeling of LBBW described sentiment this week as “complete fear and panic,” with investors anticipating broader economic dislocation following the near shutdown of major parts of China. “The market is pricing in that you’ll see lockdowns,” Haeling said. “And that would end up tipping the … Continue reading Dow slumps again to finish worst week since October 2008