Stocks fell sharply once again on Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings also dragged down the major averages.
The Dow Jones Industrial Average plummeted 462 points, or about 1.7%. The Dow briefly fell more than 900 points earlier in the session. The S&P 500 slid 1.7% while the Nasdaq Composite dropped 2%. The Dow was on pace for its worst weekly performance since the financial crisis, falling more than 8% week to date.
Apple, Boeing and Visa were among the worst-performing Dow stocks, dropping at least 4% each. AMD and Nvidia fell 4% and 4.2%, respectively.
Friday, before the weekend, the market would further loose steam not knowing the Corona Virous impact around the globe.
Since this virous is spreading slowly and impacting the world. The best preventive measures is to quarantine, block transportation, air ports etc, then the world economy got fragmented until further notice. With that, the companies profits deteriorated.
Depending how this virous moves and impacts, a recession might be in the work.
Friday, before the weekend, the market would further loose steam not knowing the Corona Virous impact around the globe.
Since this virous is spreading slowly and impacting the world. The best preventive measures is to quarantine, block transportation, air ports etc, then the world economy got fragmented until further notice. With that, the companies profits deteriorated.
Depending how this virous moves and impacts, a recession might be in the work.
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