U.S. stocks faced a substantial selloff at the end of the week, with the Dow Jones Industrial Average plunging 700 points and both the S&P 500 and Dow closing down approximately 1.7%. The tech-heavy Nasdaq experienced a decline of over 2%. The S&P 500 index extended its decline to 1.3%, hitting session lows amid renewed concerns over the economy, particularly due to headlines regarding a potential new coronavirus pandemic. The CBOE Volatility Index (VIX) saw a notable increase, rising 19% to reach levels not seen since early February, with the index last recorded at 19. The market's downturn has been attributed to growing economic jitters, as indicated by various analysts and market observers.