All three major indices plummeted at Monday’s opening bell as reported cases of the epidemic surged worldwide.
By Martha C. White and Lucy Bayly
Wall Street plunged at Monday’s opening bell after a spike in the number of reported cases of coronavirus fueled fears that the epidemic would have a serious impact on global economic growth.
The Dow Jones Industrial Average fell by more than 950 points at the open, erasing all gains for the blue-chip index for the year. The S&P 500 and Nasdaq were both down by around 4 percent, marking the biggest daily drop since August.
Travel-related stocks continued to take heavy hits as the epidemic restricted movement and discouraged vacationers, with Delta Air Lines and American Airlines falling by 5 percent. Casino operators Wynn Resorts and MGM Resorts each tumbled by around 4 percent.