Dow plunges 700 points, extending coronavirus-fueled swings

Dow plunges 800 points, enters correction on coronavirus fears


U.S. stocks retreated Thursday as coronavirus-fueled swings around global markets continued over the potential economic fallout from the outbreak.

The Dow Jones industrial average dropped 700 points while the Standard & Poor’s 500 fell 2.4%. The technology-heavy Nasdaq Composite slid 2.1%. 

The declines come a day after the Dow Jones industrial average rallied nearly 1,200 points, an about-face after shedding nearly 800 points on Monday. Health care stocks jumped Tuesday after former Vice President Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as more business-friendly than Senator Bernie Sanders.

Concerns about the coronavirus disrupting global economic growth continued to weigh on investors this week as countries around the world extended travel restrictions. Investors expect other central banks will follow up on the Federal Reserve’s surprise move Tuesday of slashing interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of the new coronavirus.


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