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2/25, 10:00 PM (Source: TeleTrader)
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Dow drops over 850 pts at close amid market selloff

Dow Jones Industrial Average index nosedived over 850 points at the close on Tuesday amid a market selloff caused by the rising novel coronavirus (COVID-19) concerns. United States Centers for Disease Control and Prevention (CDC) warned about "severe" disturbances that could emerge if the disease spreads rapidly in the country, while its senior official said that "immediate risk in the US remains low." Meanwhile, White House economic adviser Larry Kudlow claimed that the virus is under control.

The Dow Jones Industrial Average index declined by 3.15%, or 879 points at the close. American Express fell the most, 5.68%.

The Nasdaq 100 was 2.70% down as the trading session ended. American Airlines was the worst performer, plunging 9.16% and leading the losses at the S&P 500, which dropped 3.03% at the closing bell.

The euro was flat compared to the dollar to change hands at 1.08844 at 4:03 pm ET.

Breaking the News / MS