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2/27, 3:31 PM (Source: TeleTrader)
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Dow sinks more than 500 pts at open

Stock markets in the United States opened lower on Thursday as investors are still observing the development regarding the coronavirus spread. The Centers for Disease Control and Prevention yesterday confirmed the first possible "community spread" of the virus in the United States. The death toll rose to 2,814 while the number of the recovered people reached 82,585.

Meanwhile, the Bureau of Economic Analysis said gross domestic product (GDP) of the US grew at a 2.1% rate in the final quarter of 2019, remaining unchanged while, on the other hand, the US initial jobless claimed rise by 8,000 to 219,000. Also, US durable goods orders went down by 0.2% in January.

The Dow Jones dropped more than 500 points at the open. It lost 1.92% with the Walt Disney Co. being the worst performer and falling 3.45%. The Nasdaq 100 went down by 2.70% as American Airlines Group led the losses with a 10.35% fall. The S&P 500 decreased by 2.21%. Royal Caribbean Cruises Ltd. fell 7.45%.

The euro traded 0.83% higher against the dollar, changing hands for 1.09742 at 9:33 am ET.

Breaking the News / TF