Stocks Pause on Viral Outbreak
U.S. stocks fell during the holiday-shortened week, with the S&P 500 notching its third weekly loss since October 2019. A dangerous viral outbreak originating in China spooked investors globally, despite improving global data and better-than-expected earnings reports.
All four U.S. indexes we track declined during the week, with the Russell 2000 Index of small cap stocks leading losses. Value stocks weighed down equities with their worst weekly loss since October 2019. Energy stocks slid 4.2% as the worst-performing sector, while utilities gained 2.4% as the best-performing sector.
This week’s economic cale
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