Stocks open lower on Wall Street following weakness overseas

NEW YORK (AP) — Stocks are opening lower again on Wall Street, putting the market on track for a weekly loss after two weeks of gains. Overseas markets were also weaker Friday after a rise in virus cases in South Korea and other countries revived anxiety about the outbreak. Cabot Oil & Gas sank after reporting weak results. The S&P 500 fell 13 points, or 0.4%, to 3,359. The Dow Jones Industrial Average fell 108 points, or 0.4%, to 29,111. The Nasdaq lost 40 points, or 0.4%, to 9,707. Bond prices rose. The yield on the 10-year Treasury note fell to 1.49%.

THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below:

Global stock markets slipped on Friday after a spike in new virus cases in South Korea and other countries refueled investor anxiety about China's disease outbreak.

Benchmarks in Tokyo, Hong Kong and Sydney closed down and London, Frankfurt and other European indexes were trading lower. Wall Street futures was also expected to dip on the open.

Traders shifted money into bonds and gold, a traditional safe haven.

Bond markets are “sounding a warning on global growth” as virus fears spread to South Korea, Singapore and other economies, DBS analysts said in a report.

Markets had been gaining on hopes the outbreak that began in central China might be under control following government controls that shut down much of the world's second-largest economy. Sentiment was buoyed by stronger-than-expected U.S. economic data and rate cuts by China and other Asian central banks to blunt the economic impact.

But investors were jarred by South Korea's report of 52 new cases of the coronavirus, raising its total to 156, most of them since Wednesday. That renewed concern the infection is spreading in South Korea, Singapore and other Asian economies. New...