Dow drops 100 pts premarket amid China virus concerns

Tuesday, 21. January 2020 10:03

The Dow Jones Industrial Average index lost more than 100 points in premarket trade on Tuesday after it was reported that the outbreak of a new virus in China caused deaths of four people so far. Almost 300 people were confirmed to be infected, with most of them being located in the province of Hubei. Chinese President Xi Jinping said yesterday that the outbreak "must be taken seriously."

Investors will also be focused on the United States President Donald Trump's speech, set to start at 5:30 am ET at the World Economic Forum in Davos, Switzerland.

The Dow Jones Industrial Average declined by 113 points, or 0.39% at 4:03 am ET.

The Nasdaq 100 was 0.57% down and the S&P 500 dropped 0.51% at the same time.

The euro was flat compared to the US dollar, changing hands for 1.10942 at 3:56 am ET.

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Breaking the News / MS