Dow Jones plunges for 2nd straight day on coronavirus fears


Posted on: February 25th, 2020 by ABC News No Comments

claffra/iStock(NEW YORK) — The Dow Jones Industrial Average plunged for the second straight day, tumbling 879 points, as health officials warned the novel coronavirus likely will spread throughout communities in the U.S.

The Dow fell more than 3% when trading closed, with the S&P 500 and Nasdaq also tumbling Tuesday, by more than 3% and by more than 2.7%, respectively.  

The losses have been widespread. American Express, United Technologies Corp., Visa, United Health Group and Dow Inc. were among the worst performers on Tuesday, each falling more than 3%.

Tech companies including Apple, which produce goods in China and rely on that market for sales, also suffered. The travel sector, including cruise operators and airlines, also took a hit.

Tuesday’s losses come after the Dow suffered its worst single-day losses in more than two years on Monday, plummeting more than 1,000 points.

Health officials warned Americans on Tuesday to prepare for “significant disruption” to their lives as a result of the virus, saying it’s not a matter of if, but when it spreads in communities in the U.S.

The fresh warnings come as the virus has also spread rapidly outside of China, including communities in Italy, Iran and South Korea.

A handful of U.S. and international companies already have begun to feel the financial impact of the outbreak that has stifled the world’s second-largest economy.
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