Dow dips 200 pts as coronavirus reaches US

Tuesday, 21. January 2020 20:38

US stock markets extended losses on Tuesday amid news that coronavirus has reached the country with the first case reported in the state of Washington.

The Center for Disease Control confirmed earlier that a person carrying 2019 Novel Coronavirus (2019-nCoV) has been diagnosed in the US, making the patient the first case of the virus in North America.

Also, Boeing stopped trading at one point in the afternoon trade amid reports that the planemaker does not expect regulators to approve the 737 MAX license before June of July, adding to Wall Street woes. The company was plunging 5.52% before it paused trading, dragging the Dow Jones down.

The Dow Jones dipped 0.70% or 201 points at 2:38 pm ET, the Nasdaq 100 retreated 0.21% at the same time, while the S&P 500 fell 0.26% a minute later. Trip.com continued to plummet over 9% on the tech-heavy Nasdaq 100, while Wynn Resorts Limited's decline of more than 7% weighed on the S&P500.

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Breaking the News / GG