U.S. equity markets fell Friday despite the strong February jobs report which was overshadowed by continued fears surrounding the coronavirus.


Even so, the Dow Jones Industrial Average closed over 254 points lower, off the worst levels of the session. The S&P 500 and Nasdaq also trimmed losses to end over 1 percent lower.


Oil slide to a 3 and 1/2 year low settling around the $41 per barrel level as OPEC and Russia disagreed on oil production quotas.

Markets saw little reaction to the February payroll report, which showed the U.S. economy added 273,000 positions as the unemployment rate slipped to 3.5 percent. Wall Street economists surveyed by Refintiv were expecting the addition of 175,000 jobs with an unemployment rate of 3.6 percent.

Meanwhile, the latest figures from the World Health Organization show COVID-19 has infected at least 95,333 people worldwide and killed 3,282. Here in the U.S., there have been 99 confirmed cases and 10 deaths through Thursday, according to the WHO.

The sharp selloff in stocks caused a stampede into U.S. Treasurys, pushing yields to historic lows. The yield on the 10-year note fell more than 25 basis points to a record of 0.663 percent while the 30-year bond yield plunged over 36 basis points to 1.209 percent.

Rock-bottom Treasury yields are slicing profit margins on lending, causing investors to dump financial stocks. Elsewhere in the sector, JPMorgan Chase shares are in focus after the firm announced CEO Jamie Dimon is recovering from emergency heart surgery. Read more at FOX Business