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Stock futures fall 200 points as coronavirus spreads

Dow futures fell more than 200 points Sunday in a sign more turmoil on Wall Street is likely this week amid reports the coronavirus is spreading in the U.S. and globally.

The broader Standard & Poor’s 500 stock index and the tech-heavy Nasdaq each fell about 1%.

“The concern is just as high as it was last week, so the big swings and volatility are likely here to stay in the near term ” said Ryan Detrick, senior market strategist at LPL financial.

Last week, the Dow Jones industrial average tumbled more than 3,500 points, or 12%, its worst week since the 2008 financial crisis. The S&P 500 index slid 11.5%.

In the U.S., officials have identified a handful of cases through community transmission, or a source not directly linked to known cases. That means the disease could spread far more rapidly than the nation’s 72 confirmed cases indicate, taking a bigger toll on commerce and the economy. The first death in the U.S. was announced Saturday. And the Trump administration broadened its travel restrictions for Americans over the weekend.

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