Uncertainty unfolds on Wall Street regarding coronavirus, impeachment

White House considers ban on China flights amid coronavirus outbreak


DETROIT – So what’s making the stock market – and maybe even your 401(k) – a bit sick?

Did stocks tumble Monday on news that the much-feared new coronavirus has already killed more than 80 people in China? Or were investors fearful of the possible unleashing of new damaging details in the impeachment trial of President Donald Trump?

Take your pick. Wall Street could very well see wild swings in the days ahead regarding developments in both of these major news stories.

The reality is that we’ve had quite a run up in stock prices, as the Dow broke one record after another in recent weeks. The Dow reached a record 29,348.10 points on Jan. 17. Any sudden turns or threats along the way here could drive some pullback in stock prices at the very least.

A worse-than-expected turn or shock would create more lasting damage. 

Chinese police officers wearing masks stand in front of the Tiananmen Gate on Jan. 26, 2020 in Beijing, China. Authorities tightened restrictions on travel and tourism this weekend after putting Wuhan, the capital of Hubei province, under quarantine on Thursday.

The Dow Jones Industrial Average fell by more than 500 points in morning trading and closed at 28,535.80 points on Monday, down 453.93 points or 1.57%. 

Michigan has its eye on both of the big headlines. 

Michigan is a battleground state for the Trump reelection bid in 2020. On Thursday, Trump will head to Dana Inc., an auto parts supplier in Warren, to talk up the U.S. Mexico Canada Trade Agreement.

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By Javier Manning

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