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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Financial markets drop again on coronavirus fears

Financial markets drop again on coronavirus fears

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Miss-Sangeetha

Miss-Sangeetha
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Financial markets plunged again on Tuesday as investors continued to worry about the spread of the coronavirus.
The Dow shed almost 900 points, falling more than 3% to close at 27,081. The S&P 500 also closed more than 3% lower, while the Nasdaq sank 2.8%,
The declines followed drops overseas. In the UK, the FTSE 100 fell almost 2% to a 12-month low of 7,018, while Japan's Nikkei 225 index fell 3.3%.
The slump followed a global stock market plunge on Monday.
On Tuesday, airlines and travel companies, as well as firms that rely on China as part of their supply chain, were again among the most affected. Oil prices also dropped.

'This might be bad'

Losses on US markets accelerated after US health officials warned that the public should expect cases to spread.
"We are asking the American public to prepare for the expectation that this might be bad," said Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases.
The number of cases of coronavirus outside China is growing.
At least 280 people have been diagnosed with the virus in Italy, where seven have died. A handful of cases have also been identified in Switzerland, Austria, France and Germany.

In the US, which has confirmed 57 cases, the White House sought to calm fears that the spread would derail the economy.
"This is very tightly contained in the US," White House economic adviser Larry Kudlow told broadcaster CNBC. "I think this thing will run its course and the US is in excellent shape."
However, investors continued to sell stocks. Shares in American Airlines fell 9%, while Norwegian Cruise Line Holdings and Marriott dropped almost 8%.


Source- BBC /Business 

Miss-Sangeetha

Miss-Sangeetha
Moderator
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US Stocks Drop 879 Points In Two Days Dive Over Coronavirus Fears

The Dow Jones Industrial Average plummeted 879 points on Tuesday as fears of the highly contagious COVID-19 coronavirus slowing the global economy mounted.
The S&P 500 fell by 97.68 points, and the Nasdaq Composite had lost 255.67 points at market closing time, adding to the sharp decline already endured by US stocks this week.
 
“Volatility is normal,” Art Hogan, chief market strategist at National Securities, told CNBC on Tuesday. “What’s scary about this particular drop from the all-time high is it has snuck up on us so quickly in a short period of time.”


On Monday, the market endured a loss of more than 1,031 points, marking the largest one-day drop in the last six months. 
“When you juxtapose that against a mentality of ‘we don’t know how big this thing can get,’ that makes it feel like it’s a bottomless reaction in the market,” Hogan added. 
The market's recent downward spiral comes amid investors' increased anxiety surrounding the continued spread of the coronavirus in and outside of China, and its impact on the global economy. 


US health officials spoke with uncertainty on Tuesday as they announced the spread of the disease throughout the country has prompted the government to prepare for a potential pandemic. 


“We expect we will see community spread in this country,” said Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases at the Centers for Disease Control and Prevention, reported the Wall Street Journal. “It’s more of a question of when.”


South Korea, the country with the highest number of confirmed coronvirus cases outside of mainland China, is nearing a total of 1,000 infections and has raised its alert level to "grave." 


Worldwide, at least 80,410 cases of COVID-19 have been confirmed, and 2,708 individuals have lost their lives to the disease, according to the Johns Hopkins University Center for Systems Science and Engineering.


Source-Spuniknews

Teller

Teller
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Hahha, real virus face..


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Teller said is said..

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