Bond yields, oil prices, and stocks all fall after a tumultuous week


Treasury yields, oil prices, and stocks all plunged Friday afternoon after a week of mounting concerns over COVID-19 and its effect on the economy.
The Dow Jones Industrial Average dropped about 255 points to close a week of ups and downs, while the S&P 500 went down 1.7 percent and the Nasdaq Composite went down 1.9 percent. The indexes did all show gains from last week's record-breaking plunge.
Oil prices took a major dip of $4.72 per barrel as Russia and OPEC failed to come to a production agreement. Futures on the benchmark oil price of Brent crude settled Friday at $45.27, their lowest since 2017, The Wall Street Journal notes. Oil prices have fallen more than 20 percent since January.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Yields on 10-year Treasury bonds also fell below .7 percent for the first time ever on Friday before rebounding a tad to close at .71 percent. It's more than just a reaction to the Federal Reserve Board's emergency interest rate cut, one expert told the Journal — "This is a flight to quality first." Traders expect the Fed to instill further cuts in the next few months.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
August 24 editorial cartoons
Cartoons Sunday's political cartoons include Putin at Donald Trump's circus, gallons of whitewash, and a foldable cartoon
-
5 Post Office-approved cartoons about mail-in voting
Cartoons Artists take on reverse logic, Putin's election advice, and more
-
The battle of the weight-loss drugs
Talking Point Can Novo Nordisk and Eli Lilly regain their former stock market glory? A lot is riding on next year's pills
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
DORKs: The return of 'meme stock' mania
Feature Amateur investors are betting big on struggling brands in hopes of a revival
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits