1/31, 4:09 PM (Source: TeleTrader)
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Dow drops over 300 points on coronavirus fears

United States markets extended losses from earlier in the session on Friday as the Dow Jones Industrial Average plunged over 300 points amid rising coronavirus concerns. On Thursday, the World Health Organization (WHO) declared a global health emergency over the disease, which spread to even more countries, including Russia and the United Kingdom, in the meantime.

The Dow Jones slid 1.07% or 310 points at 10:10 am ET. The worst performers were Chevron and Exxon, whose stock slid 3.50% and 3.15%, respectively, at 10:12 am ET on disappointing earnings.

The Nasdaq 100 dropped 0.60% at 10:15 am ET. Amgen led the losses as its shares plummeted 5.54% despite the company reporting better-than-expected results.

The S&P 500 lost 0.83% at 10:15 am ET with Broadridge Financial Solutions diving 9.16% at 10:14 am ET.

The euro added 0.23% against the dollar to sell for 1.10579 at 10:20 am ET and the pound jumped 0.40% compared to the US currency to go for 1.31452 ahead of Britain's departure from the European Union scheduled for midnight.

Breaking the News / NP