Dow tumbles more than 1000 points as coronavirus fears paralyze investors
February 25, 2020 | Investopaper
The Dow Jones Industrial Average saw a major decline, amid the fears of coronavirus spreading outside China. On Monday, DJIA plunged by 1,031.61 points or 3.56 percent to close on 27,960.80.
Likewise, S&P fell by 3.35 percent while Nasdaq Composite slid by 3.71 percent. S&P 500 and Nasdaq Composite closed at 3,225.89 and 9,221.28 respectively.
The DJIA decline is the third biggest day drop in its 124 years history in terms of points.
With the fear of coronavirus spreading outside China, the markets faced a selloff on Monday.
China, the second-largest economy of the world, is currently paralyzed by the virus rapidly spreading since its origination in Wuhan China last year. According to the WHO, there are currently 79,339 cases of coronavirus that has already claimed 2,619 deaths.
