Market Selloff: What to Watch Friday - TheStreet

Market Selloff: What to Watch Friday

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Market's look set to continue the sell-off that has dominated the markets during the final week of February trading as the coronavirus spooked Wall Street. 

Watch the video above for a full breakdown of what to expect Friday morning. 

Full Transcript:

It’s Friday, February 28.

Thursday saw the biggest points drop for the Dow and S&P 500 in history.

Over the past week, the Dow has plummeted 3,200 points.

Percentage-wise, Thursday wasn’t even in the top 20 worst percentage drops for the Dow, S&P 500 and Nasdaq.

It was the worst percentage drop for the Dow and the S&P since February 2018, which saw two days where the Dow declined 1,000 points.

All three indices closed down 4%. And they entered correction territory, meaning that they’re off 10% from recent highs.

The S&P 500 is 12% below its peak.

The 10-year Treasury yield fell to a new al-time low below 1.28% on Thursday.

Oil dropped 3.4% to $47.09 a barrel.

So, as we approach the open on the final trading day of the month, what should you expect?

Well, the Dow futures are pointing to a rocky start.

And then there’s the coronavirus.

There are over 83,000 cases worldwide. With over 2,800 deaths.

Switzerland has banned all public gatherings with over 1,000 attendees.

South Korea has reported 571 new cases, pushing the number of confirmed cases over 2,300.

Iran has confirmed 143 new cases. The death toll is now 34.

Germany has quarantined over 1,000 people.

And Nigeria has confirmed its first case of the virus.

Jim Cramer and I will be breaking down the markets and more in TheStreet Live and stick with TheStreet.com all day for our special report: Panic and Your Portfolio. We’ll be bringing you the latest market news and insight, move by move, point by point.