· The S&P 500 has worst day since October as virus fears mount
Wall Street fell in a broad sell-off on Friday, as investors fled equities on growing concerns over the scope of the coronavirus outbreak, capping the S&P 500’s worst week in six months.
The Dow Jones Industrial Average .DJI fell 170.36 points, or 0.58%, to 28,989.73, the S&P 500 .SPX lost 30.09 points, or 0.90%, to 3,295.45 and the Nasdaq Composite .IXIC dropped 87.57 points, or 0.93%, to9,314.91.
All three major U.S. stock averages turned sharply negative, with the S&P 500 seeing its biggest one-day percentage drop in over three months after the Centers for Disease Control and Prevention confirmed the second case of the virus on U.S. soil, this time in Chicago.
S&P 500 and Dow wrapped up their worst week since August and the Nasdaq snapped a six-week winning streak.
· U.S. stock futures fall more than 1 percent as coronavirus fears spread
U.S. S&P500 e-mini futures ESc1 fell more than 1% in Asian trade on Monday on mounting worries the new coronavirus outbreak could severely disrupt the Chinese economy, an engine of global growth.
China’s cabinet said it would extend the week-long Lunar New Year holiday by three days to Feb. 2 and Hong Kong banned residents of China’s Hubei province, where the new coronavirus outbreak was first reported, from entering the city.
· Stocks drop as new coronavirus fears escalate
Shares slid on Monday as investors shunned equities on growing concerns over the scope of a China virus outbreak, with safe-haven assets such as the Japanese yen and Treasury notes in greater demand.
Japan’s Nikkei 225 fell 2.03% in early trade Monday. Trading volume is expected to be low as many Asian markets remain shut for the Lunar New Year holidays.
The Topix index was down 1.79%.
Investors appear to be wary about the fast-spreading coronavirus, which started in the Chinese city of Wuhan.
“Uncertainty continues to weigh on markets with increasing concerns about the deadly and contagious coronavirus, which continues to spread,” Liz Kendall, senior economist at ANZ Research, wrote in a morning note.
Reference: CNBC,Reuters
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