UNITED STATES (OBSERVATORY NEWS) — Dow ends down over 870 points, marks its worst two-day point drop in history.
Dow Jones Industrial Average index nosedived over 850 points at the close on Tuesday amid a market selloff caused by the rising novel coronavirus (COVID-19) concerns.
Dow Jones closes down 878 points (3.1%) amid concern over coronavirus, adding to Monday’s sell-off during which the Dow dropped more than 1,000 points.
Key indices fell significantly on Tuesday following the trading session on the New York Stock Exchange amid concerns about the spread of the new coronavirus. This is evidenced by the data posted on the website of the trading platform.
The American industrial Dow Jones index fell 879.44 points (3.15%) and settled at around 27 081.36 points. The S&P 500 Index, which includes the 500 largest companies in the US market, lost 97.68 points (3.03%) and was at the level of 3128.21 points. The Nasdaq Electronic Exchange Index fell 255.67 points (2.77%) to 8965.61 points. On Monday, trading also ended in a fall in indices.
According to Wall Street Journal analysts, the decline in major indices is due to fears that the spread of coronavirus could harm the global economy.
The outbreak of the disease caused by the new coronavirus (2019-nCoV) was recorded at the end of December 2019 in the most populous city in Central China – the 12 millionth Wuhan. The World Health Organization recognized it as an emergency of international proportions, describing it as an epidemic with many foci. Outside of China, cases of infection have been detected in more than 30 countries, including Russia.
The Chinese authorities recorded 2,663 deaths in the country, more than 27.2 thousand people recovered, the number of people infected during the entire spread of the virus exceeded 77.6 thousand.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
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