TELETRADER News
2/25, 6:44 PM (Source: TeleTrader)
more TeleTrader news

Dow tumbles over 450 pts as CDC warns of 'severe' impact of COVID-19

United States markets extended losses on Tuesday after opening with gains, as coronavirus worries pressed markets, as well as disappointing consumer confidence data for February. The White House requested from Congress yesterday $2.5 billion for fighting the outbreak domestically, significantly more than initial reports suggested.

The Centers for Disease Control and Prevention also warned that disruptions to daily life due to the "community spreading" of the virus could be "severe." US Health and Human Services Secretary Alex Azar stated that there will "likely be more cases" of coronavirus in the country.

The Dow Jones Industrial Average index was down 1.64% at 12:49 pm ET, losing 459 points, led by American Express.

The Nasdaq 100 tumbled 1.32% at 12:51 pm ET pulled by American Airlines, while the S&P 500 dropped 1.60%.

The euro increased 0.27% against the dollar, buying $1.08813 at 12:52 pm ET.

Breaking the News / NI