Global Markets: US stocks end mixed in volatile trading

Global Markets: US stocks gave up their earlier gains to close mixed as market sentiment was dented by concerns over a resurgence in coronavirus infections across the country. On Friday, the Dow Jones Industrial Average fell 208.64 points, or 0.80 per cent, to 25,871.46. The S&P 500 decreased 17.42 points, or 0.56 per cent, to 3,097.92. The Nasdaq Composite Index was up 3.07 points, or 0.03 per cent, to 9,946.12, Xinhua news agency reported.

The three major averages posted strong gains earlier in the session with the 30-stock index up 371 points in intraday trading.

Ten of the 11 primary S&P 500 sectors finished lower, with utilities shedding 3.1 per cent, leading the laggards. Health care rose 0.87 per cent, the only gaining group.

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A spike in new coronavirus cases in some US states has raised questions about a swift economic recovery from the pandemic, experts noted.

More than 2.2 million confirmed COVID-19 cases have been reported in the United States, with nearly 119,000 deaths, as of Friday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.