All three major stock indexes are down about one and a half percent in early trading today. That translates to more than 400 points for the Dow Jones Industrial Average.
As investors reacted to the spread of the coronavirus:
-Stock futures tumbled with crude oil
-Yen jumped while offshore yuan slumped
-Markets in China, Hong Kong, South Korea and Australia are shut
What you need to know about what's moving markets https://t.co/FmGCMJK0AX
— Bloomberg (@business) January 26, 2020
Investors are troubled by the Wuhan coronavirus, which has now claimed more than 81 lives and infected nearly three-thousand people. There are five confirmed cases in the U.S. The S&P 500 is down more than 40 points and the Nasdaq has lost more than 150 points. The Dow had lost 500 points at the opening bell.
Stocks in airlines are one of the reasons the major stock indexes are down today.
The coronavirus outbreak in China is impacting all travel-related companies.
American Airline’s stock is down nearly seven percent. United and Delta both fell nearly five-percent. The outbreak has killed more than 50 people and infected thousands around the world. There are five confirmed cases in the U.S.