Dow Jones falls 450 points amid rising coronavirus concerns

Stock markets tumbled on Monday amid concerns about rising cases of the novel coronavirus in China and the United States. Photo by John Angelillo/UPI

Jan. 28 (UPI) — U.S. stocks tumbled on Monday amid growing concerns over the coronavirus as multiple new cases were confirmed worldwide.

The Dow Jones Industrial Average fell 453.83 points or 1.57 percent, as the S&P 500 also fell 1.57 percent, and the Nasdaq Composite dropped 1.89 percent by the end of trading as the number of confirmed cases of the virus in China rose to 2,835 and the death toll rose to 81.

There were also a total of five confirmed cases in the United States as of Monday.

The Dow and the S&P saw their largest declines since October, while the Nasdaq had its worst losses since August.

Travel-related stocks such as Carnival, Expedia and Mariott International all dropped at least 2.1 percent.

Stocks for United and Delta airlines both fell more than 3.3 percent, while American slipped 5.5 percent.

Caterpillar, regarded as a bellwether for global growth fell 3.3. percent while companies that generate revenue from China also felt the impact as Estee Lauder fell 4.1 percent and Nike dropped 1.8 percent.


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