Dow ends more than 1,000 points lower as fears over virus spark equity rout
Stocks ended sharply lower Monday, with the Dow Jones Industrial Average and S&P 500 giving up their gains for the year as investors dumped global equities and other assets perceived as risky amid worries over the spread of COVID-19 outside of China. The Dow Jones Industrial Average ended around 1,031 points lower, a drop of 3.6%,near 27,961, according to preliminary figures, leaving the blue-chip gauge down 2% for the year to date. The S&P 500 fell around 112 points or 3.4%, to end near 3,226, leaving it 0.2% lower for the year. The Nasdaq Composite dropped around 355 points, or 3.7%, to finish near 9,221; it remains up 2.8% for the year to date. Energy was the hardest hit sector in the S&P 500, dropping 4.7% as crude-oil futures fell sharply on worries the economic impact of the viral outbreak would dent demand for crude. Transportation-related shares also suffered, with cruise-ship operators Norwegian Cruise Line Holdings Ltd. and Carnival Corp. among the biggest decliners on the S&P 500, with each falling more than 9%.
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