Worst week since financial crisis | Is there anything the Fed can do? | Treasury yields hit new low

Stocks ended one of their worst weeks in history as coronavirus fears grip global markets.

VIEW IN BROWSER | SUBSCRIBE FRI, FEB 28, 2020 EVENING BRIEF AS OF FRI, FEB 28, 2020 • 05:09 ET DJIA 25409.36 -1.39% -357.28 S&P 500 2954.22 -0.82% -24.54 NASDAQ 8567.37 +0.01% +0.89   Most Active DOW NAME LAST CHG %CHG AAPL 273.36 -0.16 -0.06% MSFT 162.01 +3.83 +2.42% CSCO 39.93 -0.11 -0.27% S&P 500 NAME LAST CHG %CHG BAC 28.50 -0.63 -2.16% GE 10.88 +0.49 +4.72% T 35.22 -0.51 -1.43% NASDAQ NAME LAST CHG %CHG AAPL 273.36 -0.16 -0.06% AMD 45.48 +1.47 +3.34% MSFT 162.01 +3.83 +2.42% EDITOR'S NOTE It was one of the worst weeks ever for the Dow Jones Industrial Average, and that grim milestone came before trading even opened on Friday.   It only got worse. The Dow was down sharply again on Friday, and a statement from Federal Reserve Chairman Jerome Powell offered just a little comfort.   The major indexes ended the week down about 13% to 14% below their highs, marking a steep stock market correction. The Fed can lower interest rates or pump more money into the banking system, but borrowing costs are already falling. The 10-year Treasury yield plunged to a record low of 1.12%, and the two-year rate dropped below 0.9%.   Many market observers say there's not much the Fed can do to ease what is likely to become a pandemic.   "The Fed can't do anything to stop the spread of COVID-19," Ian Lyngen, BMO's head of U.S. rates, said in a note on Friday. "But they also can't stand idly by in the face of a global equity correction."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow tumbles to end worst week since the financial crisis Fed's Powell says coronavirus poses 'evolving risks,' pledges to 'act as appropriate' for economy 10-year Treasury yield collapses to another record low below 1.12%, 2-year rate tumbles to 0.9% Plunging rates in the US are rewriting the history books WHO raises coronavirus threat assessment to its highest level: 'Wake up. Get ready. This virus may be on its way' Cramer suggests young retirement savers put '401(k) money to work' in this week's market plunge Google restricts travel as coronavirus outbreak spreads and employee in Switzerland tests positive Mortgage rates just hit an 8-year low. Here's why they're not even lower Ex-Fed Gov Warsh sees coordinated global central bank action soon in response to coronavirus Bill Gates: Coronavirus may be 'once-in-a-century pathogen we've been worried about'     TOP VIDEO Kudlow: Don't think market's plunge will have long-term effect   CNBC PRO Goldman created a 'strong balance sheet' stock portfolio for turbulent times. Here's what's in it   SPECIAL REPORTS One stock may offer safety among the transports sector Stock market spirals as coronavirus fears persist— Here's what to watch   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS