Global markets fall sharply as virus cases spread past Asia
U.S. stocks fell sharply in early trading Monday, following a broad sell-off in overseas markets, as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
The Dow Jones Industrial Average slumped 840 points, or 2.9%, to 28,146 and gave up all of its gains for the year. The S&P 500 index skidded 2.7% and gave up most of its gains for 2020. The Nasdaq fell 3.2%.
More than 79,000 people worldwide have been infected by the new coronavirus. China, where the virus originated, still has the majority of cases and deaths. But, the rapid spread to other countries is raising anxiety about the threat the outbreak poses to the global economy.
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