New York (AFP)

The New York Stock Exchange ended the week clearly in the red on Friday, affected by lingering uncertainties surrounding the coronavirus and disappointing indicators of the US economy.

Its flagship index, the Dow Jones Industrial Average, lost 0.78% to finish at 28,992.41 points.

The highly technological Nasdaq dropped 1.79% to 9.576.59 points and the S&P 500, which represents the 500 largest companies on Wall Street, lost 1.05% to 3.337.75 points.

Over the week as a whole, the Dow Jones fell 1.4%, the Nasdaq 1.6% and the S&P 500 1.3%.

Investors are feverish as they struggle to assess the impact of the coronavirus on corporate profits, according to Shawn Cruz of TD Ameritrade.

"Market players must prepare for a certain shock when the (first quarter) financial results are released," he said.

After Apple (-2.26%), which had shaken the markets at the start of the week by warning that viral pneumonia would affect its results, it was Coca-Cola's turn (+ 0.69%) on Friday to warn that the epidemic would weigh on its first quarter sales. The soft drink giant hopes to make up the shortfall, however.

But the effects could extend into the second and third quarters because companies must not only face a potential drop in demand for their products but also disruptions in their supply chain, which will increase their costs and affect as much profitability, says Cruz.

Market players, reassured by the apparent slowdown in the spread of the virus earlier in the week, were also worried Friday to see the appearance of new outbreaks in Asia, with in particular a doubling of cases in South Korea and some 500 contaminated prisoners in China.

For Mr. Cruz, the coronavirus has replaced the trade war as the dominant theme on the markets, causing the indices to tilt one way or the other according to the headlines on the subject.

Wall Street brokers were also taken aback on Friday by PMI indicators from the Markit firm which showed that growth in activity in the manufacturing sector had slowed down slightly in February in the United States while activity in the service sector had contracted.

The composite index for the entire private sector consequently shows activity in contraction for the first time since 2013.

Sign of increased interest in the bond market, considered safer than the equity market, the 10-year rate on the US debt fell sharply again on Friday, falling to 1.470% around 9:20 p.m. GMT against 1.566% the day before closing. . It is at its lowest since September.

© 2020 AFP