· Wall Street tumbles as virus fuels economic worry
U.S. stocks suffered their worst day in over three months on Monday as China extended the Lunar New Year holiday due to a virus outbreak, fueling worries about the economic impact of containment efforts in the world’s second largest economy.
The Dow Jones Industrial Average .DJI fell 453.93 points, or 1.57%, to 28,535.8, the S&P 500 .SPX lost 51.84 points, or 1.57%, to 3,243.63 and the Nasdaq Composite .IXIC dropped 175.60 points, or 1.89%, to 9,139.31.
The Dow and S&P has their biggest one-day percentage drop since Oct. 2 while the Nasdaq’s fall was its largest since Aug. 23. Wall Street’s fear gauge, the CBOE Volatility index .VIX, reached 19.02, its highest since Oct. 10.
Still, some investors viewed any long-term economic impact as unlikely, given past experiences with viral outbreaks.
· Stocks in Asia decline as Dow plunges amid coronavirus fears; South Korea drops more than 2%
Stocks in Asia declined in Tuesday morning trade after the Dow Jones Industrial Average plunged overnight amid fears about the ongoing coronavirus outbreak continues to grip investors.
South Korea’s Kospi dropped 2.4% as shares of industry heavyweight Samsung Electronics plunged almost 3%.
In Japan, the Nikkei 225 shed 0.81% in early trade as shares of index heavyweight and robot maker Fanuc dropped 1.6%. The Topix index also slipped 0.92%.
Meanwhile, shares in Australia also declined, as the S&P/ASX 200 dropped about 1.5%.
Overall, the MSCI Asia ex-Japan index traded 0.7% lower.
Markets in China and Hong Kong are closed on Tuesday for holidays.
Reference: CNBC, Reuters
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