S&P 500, Dow extend longest losing spree in a year on Covid-19 fears

The S&P industrials sector added 0.2 per cent as data showed new orders for key U.S.-made capital goods increased more than expected in August.

The S&P 500 and the Dow inched lower on Friday, extending their longest losing spree in a year as fears about the outlook for the economy in a future still dominated by the coronavirus weighed on investor sentiment.

Five of the 11 major S&P indexes fell in early trading, with a 0.7 per cent drop for energy stocks putting them on course for one of their worst weeks since the coronavirus-driven crash in March.

The defensive real estate sector led gains among those trading higher.

A clutch of mixed macroeconomic data has weighed on Wall Street in recent weeks, overshadowing