Coronavirus Sparks Global Stock Selloff, Dow Futures Down 2.5%

Coronavirus Sparks Global Stock Selloff, Dow Futures Down 2.5%

Stocks around the world fell Monday as investors grappled with the potential economic fallout from mounting coronavirus infections in South Korea and the emergence of other fresh hot spots outside China, including in Italy.

“Futures tied to the Dow Jones Industrial Average fell 2.5%, pointing to another day of likely declines for the index of U.S. blue-chip stocks. Equities in Europe opened sharply lower, with the Stoxx Europe 600 index declining 3.5% and falling into negative territory for the year,” reports the Wall Street Journal.

Dow futures were down as much as 7 percent overnight.

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“Investors have rushed out of equities and into havens like gold and US government bonds following a surge in coronavirus cases in Italy, South Korea and Iran over the weekend that intensified concerns over the global impact of the virus,” reports the FT.

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