Assessing The Damage [Daily Recap]
- U.S. equity markets extended their coronavirus-related declines on Friday as the major equity indexes completed their worst week since the financial crisis.
- The S&P 500 finished lower by 0.8% on the day, pushing the weekly losses to over 11% while the Dow Jones Industrial Average shed more than 3,000 on the week.
- Investors piled into U.S. government bonds as the 10-Year Treasury Yield plunged by another 15 basis points to end the day at 1.15%, another historic closing low.
- The broad-based commercial Real Estate ETF (VNQ) finished lower by 2.4%, finishing the week lower by more than 12%. Storage and single-family REIT were the top-performers on the week.
- Stay tuned for full coverage of this week's economic data in our Real Estate Weekly Outlook report published tomorrow morning.
Real Estate Daily Recap
U.S. equity markets extended their coronavirus-related declines on Friday as the major equity indexes completed their worst week since the financial crisis. Speculation and misinformation ran wild regarding a flu-like virus that has so far killed zero people in the United States and despite a "major drop" in reported cases in China, the illness' epicenter. Staging a comeback into the close, the S&P 500 ETF (SPY) finished lower by 0.8% on the day, pushing the weekly losses to more than 11% while the Dow Jones Industrial Average (DIA) dipped by another 350 points, bringing the weekly point losses to more than 3,000 points. Investors piled into U.S. government bonds as the 10-Year Treasury Yield (IEF) plunged by another 15 basis points to end the day at 1.15%, another historic closing low. The broad-based commercial Real Estate ETF (VNQ) finished lower by 2.4%, finishing the week lower by 12%.
