Analysts said uncertainty has weighed on the financial markets. Gold and US Treasuries rallied following the news as Wall Street fled to safe haven assets immediately.
US stocks fell sharply after former US National Security Adviser Michael Flynn pleaded guilty to lying to the Federal Bureau of Investigation (FBI) regarding his improper contacts with Russia. The Dow Jones Industrial Average on Friday plummeted 245.13 points, or 1.01 per cent, to 24,027.22. The S&P 500 lost 28.07 points, or 1.06 per cent, to 2,619.51, Xinhua news agency reported.