As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by MSN.COM:
Stocks ended sharply lower Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading.
The Dow Jones Industrial Average closed down 1,031 points, or 3.55%, at 27,960. The S&P 500 slid 3.4% to finish at 3,225, while the Nasdaq Composite closed 3.7% lower at 9,221.
— ABC News (@ABC) February 24, 2020
The article goes on to state the following:
It was the Dow’s biggest point and percentage-point drop since February 2018. The Dow also gave up its gain for 2020. The S&P 500 also had its worst day in two years and wiped out its year-to-date gain.
BREAKING: Dow closes down more than 1,000 points (3.5%) amid concern over coronavirus
— BNO Newsroom (@BNODesk) February 24, 2020
The AP reported on the Dow drop:
Traders sought safety in U.S. government bonds, gold and high-dividend stocks like utilities and real estate. The yield on the 10-year Treasury fell to the lowest level in more than three years.
Technology stocks accounted for much of the broad market slide, which wiped out all of the Dow’s and S&P 500’s gains for the year.
Dow Jones index drops more than 1,000 points as the spreading virus outbreak threatens the global economy. https://t.co/Y9Qu05zq5i
— The Associated Press (@AP) February 24, 2020
More than 79,000 people worldwide have been infected by the new coronavirus. China, where the virus originated, still has the majority of cases and deaths. The rapid spread to other countries is raising anxiety about the threat the outbreak poses to the global economy.
To get more information about this article, please visit MSN.COM.