A Bloodbath in Wall Street, Dow Plunges over 1,000pts as Fears over Coronavirus Rise
On Monday, Dow Jones fell 1,031.61 points or 3.56% to 27,960.80, while S&P 500 plunged 3.35%. Both posted their biggest daily loss in two years. Nasdaq also closed 3.71% lower.
Dow Jones and S&P 500 suffered their biggest daily loss in two years while Nasdaq was not any better over the night in New York on coronavirus fears.
On Monday, Dow Jones fell 1,031.61 points or 3.56% to 27,960.80, while S&P 500 plunged 3.35%. Both posted their biggest daily loss in two years. Nasdaq also closed 3.71% lower. However, Dow Jones Futures rebounded by 60 points after the plummet.
The plummet occurred after stocks in Asia and Europe fell earlier in the day on fear of coronavirus pandemic outbreak. The World Health Organization stated that a “sudden increase in new cases” outside mainland China is “deeply concerning,” following rising cases in South Korea, Italy and Iran.
South Korea raised its coronavirus alert to the “highest level” as the confirmed cases were close to 800. Italy quarantined a dozen of towns to contain the outbreak while Iran were reportedly by the media of covering up 50 deaths from the virus, but health ministry denied the case.
