Stocks fall as virus uncertainty persists; Dollar is set for weekly loss

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NEW YORK (Reuters) – Stocks across the globe fell on Friday after three days of history, with indexes poised to end months and quarters with negative performances.

Fluctuations in capricious markets are expected to continue as the coronavirus pandemic causing closure in economies around the world is still a major threat.

The United States surpassed two grueling milestones on Thursday when virus-related deaths have exceeded 1,000 and become world leaders in confirmed cases.

Uncertainty about the total economic and human costs has been reflected in the financial markets, with MSCI's global stock index, tracking to achieve the biggest weekly percentage increase since 2008 and largest monthly and quarterly decreases since 2008.

Yousef Abbasi, global market strategist at INTL FCStone Financial Inc in New York, said that the prevalence of coronaviruses is dominating the market at a time of uncertainty.

My big engine here is when the curve starts flattening, that doesn't mean we can return to normal economic and human behavior. If we return to normal economic and human behavior, we risk a return curve. Just from the perspective of how long this can last, there's still a lot of uncertainty, he said.

The Dow Jones industrial average fell 827.25 points, equivalent to 3.67%, to 21,724.92, the S&P 500 lost 87.31 points, equivalent to 3.32%, to 2,542.76 and the Nasdaq Composite down 255.69 points, equivalent to 3.28%, …

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