U.S. stocks slumped sharply at the open on Friday, retreating from record closes on Thursday, after investors reeled from a one-two punch of escalating tensions in the Middle East and a U.S. manufacturing activity index plumbing its lowest level since June 2009.

The Dow Jones Industrial Average was down 215 points, or 0.7%, to 28,654. The S&P 500 fell 20 points, or 0.6%, to 3,238. The Nasdaq Composite slipped 56 points, or 0.6%, to 9,037.

The investor flight from risky assets toward traditional safe havens, including gold and U.S. Treasurys, stood in contrast to market action on Thursday, which saw all three major U.S. stock indexes post strong gains to end the first trading session of 2020 at records.

Source : Marketwatch