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  • Alex Pettee, CFA

Daily Recap: Stocks Slide On Virus Fears

  • U.S. equity markets dipped on Friday with the S&P 500 sliding the most since October as fears mount over the potential spread of a deadly coronavirus.

  • The S&P 500 fell by 0.9% while the Dow Jones gave back 170 points, each snapping their two-week winning streaks. The major averages finished the week down by roughly 1%.

  • Oil prices again extended their declines, dipping another 2% and dragging 10-Year Treasury Yield lower by another 6 basis points to end the day at 1.68%, the lowest level since October.

  • While still finishing lower, real estate equities were a relative safe-haven on the day as the broad-based commercial Real Estate ETF (VNQ) declined by 0.3%.

  • 2020 hasn't been any kinder to the mall REIT sector, which is again one of the worst-performing REIT sectors through the first few weeks of the year. Mall REITs dipped another 2% on the day.

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