Market drops again as report says NYSE trading floor may shut down amid coronavirus concerns
Stocks sank around the globe again Friday as investors braced for more economic pain from the coronavirus outbreak, sending U.S. markets to their worst weekly finish since the 2008 financial crisis; however, Wall Street is still very much open for business.
An earlier report by Fox Business Network’s Charlie Gasparino claimed that the world’s most famous financial market was making drastic plans if the virus spreads fear of a wider pandemic and a global economic disaster.
While there was a trader update sent by the NYSE on Thursday, it was for a preplanned disaster recovery test scheduled for March 7, according to an NYSE spokesperson and not a reaction to the pending pandemic.
“The NYSE is carefully monitoring the spread of COVID-19 and has robust contingency plans, tested regularly, to enable continuous operation of the NYSE exchanges should any facilities be impacted.”
There was no immediate comment on the Fox report from the NYSE. The trading floor is closed over the weekend and is expected to reopen on Monday morning.
The Dow Jones Industrial Average nose-dived another 1,000 points Friday to cap its worst week since the financial crisis of 2008.