Stocks slide on Wall Street, extending steep drops this week

Stocks slide on Wall Street, extending steep drops this week
James Denaro monitors stock prices at the New York Stock Exchange, Wednesday, Feb. 26, 2020. (Source: AP Photo/Mark Lennihan)

NEW YORK (AP) — Stocks gave up early gains and ended lower, extending their losses for the week.

Worries about economic fallout from the virus outbreak that originated in China has fueled a sharp sell-off that wiped out the market’s gains for the year.

Energy stocks sank along with the price of oil.

Cruise operators fell again, deeping a monthlong rout.

The bond market continued to flash warning signs as long-term yields fell further below short-term ones.

The S&P 500 fell 11 points, or 0.4%, to 3,116. The Dow Jones Industrial Average fell 123 points, or 0.5%, to 26,957. The Nasdaq edged up 15 points, or 0.2%, to 8,980.

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