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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks tumbled in opening trading Friday, shrugging off strong US jobs data as investors fixate on the economic toll from the coronavirus. After about 20 minutes, the Dow Jones Industrial Average stood at 25,338.65, down 3.0 percent or around 780 points. The broad-based S&P 500 shed 3.1 percent to 2,930.04, while the tech-rich Nasdaq Composite Index sank 2.9 percent to 8,486.38. Demand remained elevated for secure assets such as bonds, with the yield on the 10-year US Treasury note falling to a fresh all-time low. The Labor Department reported that the US economy added 273,000 jobs in February, toping expectations, and unemployment dipped to 3.5 percent, near a 50-year low. But the market essentially ignored the report, viewing it as outdated before the coronavirus crisis depressed the global outlook. "The February jobs report showed remarkably healthy labor market fundamentals prior to the coronavirus outbreak," said a note from Oxford Economics. "But, while strong employment and steady wage gains have boosted consumers' immune system, the virus is all but certain to infect their willingness to spend. Cautious businesses, weary workers and the absence of a coordinated policy responses will weigh on job growth in H1 2020." Starbucks fell 3.8 percent as it projected that quarterly comparable sales in China will fall 50 percent from last year's level, hitting revenues by between $400 million and $430 million, following the temporary closure of about 80 percent of the company's China stores due to the virus. JPMorgan Chase sank 5.0 percent, joining other large banks in retreating on the weakening outlook for interest rates. The bank also disclosed that Chief Executive Jamie Dimon underwent emergency heart surgery on Thursday. Head of the company's investment bank Daniel Pinto and head of the consumer bank Gordon Smith will take over day-to-day duties while Dimon, 63, recovers. jmb/cs
schema:headline	Dow down 3.0% as virus fears overshadow good jobs data
schema:mentions	S&P 500 Index JPMorgan Chase Dow Jones Industrial Average Australian Labor Party University of Oxford Immune system Starbucks Virus China Coronavirus Severe acute respiratory syndrome coronavirus 2 Daniel Pinto Gordon H. Smith Hummer H1 Jamie Dimon United States Treasury security Investment banking NASDAQ Composite Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-06 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	63 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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