The Dow drops 525 points and fell to its low of the session after Delta and American Airlines suspend all flights between the US and China amid coronavirus outbreak.
citing concern that the outbreak continues to spread to other countries with weaker health systems. WHO’s designation was made to help the United Nations health agency mobilize financial and political support to contain the outbreak.
“The outbreak of the coronavirus has added another headwind to the near-term outlook for stocks,” Peter Berezin, chief global strategist at BCA Research, said in a note. “Viruses often become less lethal as they mutate because a virus that kills its host is also a virus that kills itself. Unfortunately, in a world of mass travel, a virus can spread across the globe before it has time to lose potency.
The major averages saw an uptick in volatility this month as investors grappled with rising tensions between Iran and the U.S., trade worries with China and the coronavirus scare.
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