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2/18, 5:17 PM (Source: TeleTrader)
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Dow drops over 200 pts as Fitch warns about Covid19 effects

The Dow Jones Industrial Average Index dropped over 200 percentage points on Tuesday following the warning of Fitch Ratings that the coronavirus outbreak could have "lingering effects" on United States technology companies.

Meanwhile, Dell Technologies announced it entered a definitive agreement with a consortium led by Symphony Technology Group, Ontario Teachers’ Pension Plan Board and AlpInvest Partners to sell its cybersecurity unit RSA for $2.1 billion. Around the same time, President Donald Trump called the possibility of the US imposing new trade restrictions on China "ridiculous."

The Dow Jones dropped 0.82% or 245 percentage points at 11:27 am ET. At the same time, The Nasdaq 100 lost 0.38% and the S&P 500 decreased by 0.65%. The euro traded 0.15% lower against the greenback, going for $1.08175 at 11:28 am ET.

Breaking the News / ND