Newsletter

Menu

US stocks plummet to the worst since 2008 crisis amid coronavirus outbreak

By Staff Correspondent |
stock market

The markets experienced the worst nightmare week since the 2008 financial crisis as the stocks remained in the red due to the panic selling associated with the coronavirus outbreak. The Dow plunged to the worst-ever point in nearly nine months while the S&P 500 had its worst day since 2011.

The Dow Jones Industrial Average is currently down 2.03% at 25,242.79, the Nasdaq Composite is down 0.66% at 8,510.06 and the S&P 500 is down 1.63% at 2,930.25. On Thursday, the US major averages ended at their worst levels as Dow plunged 4.4% to 25,766.64, the Nasdaq dipped 4.6% to 8,566.48 and the S&P 500 plummeted 4.4% to 2,978.76.

stock market
Image for representation only (Courtesy: skeeze from Pixabay)

The coronavirus cases spreading outside China have turned out to be a global concern as all stock markets worldwide were lower. European stocks fell further into correction territory on Friday while Asian stocks ended lower, worsening fears of a global pandemic.

The California Governor Gavin Newsom said 33 people have tested positive for the coronavirus and the state is currently monitoring at least 8,400 others. The Centers for Disease Control and Prevention (CDC) on Tuesday labeled the virus as a “serious public health threat” as it is likely to spread to the US.

The public health officials warn Americans about potential disruption if the virus starts spreading and suggests asking schools and workplaces about contingency plans. Globally, there were more than 81,000 confirmed cases of coronavirus with South Korea remaining the worst affected region outside China.

Read: Coronavirus hit General Motors stock

Meanwhile, the World Travel and Tourism Council estimates that the deadly coronavirus epidemic will cost the world tourism at least $22 billion. Apart from this, the list of companies warning about the potential impact of the coronavirus is rising. Microsoft (NASDAQ: MSFT) is the latest to join as the software giant does not expect to meet its revenue forecast for a key segment that includes Windows.

The virus has not even spared the commodities and crude oil markets as both were trading in the red. The last economic impacts of coronavirus will likely be from weaker energy demand and disruption to key mineral resource supply chains. Energy, commercial real estate, chemical, and telecom stocks also saw significant weakness.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Advertisement

More on this Company

Major corporate events canceled or postponed due to Covid-19 this week

March 20, 2020

Fresh hope for Covid-19 patients as AbbVie (ABBV) leads studies on HIV drug

March 12, 2020

Market: US futures point to a lower open due to travel ban

March 12, 2020

229 responses to “US stocks plummet to the worst since 2008 crisis amid coronavirus outbreak”

  3. Chirurgie Tunisie

    […]although internet sites we backlink to beneath are considerably not associated to ours, we really feel they are essentially really worth a go by means of, so possess a look[…]

  4. National Chi Nan University

    […]we like to honor lots of other world wide web sites on the internet, even if they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  12. Ovens

    […]very handful of sites that occur to be comprehensive below, from our point of view are undoubtedly properly worth checking out[…]

  33. Global Cultures

    […]that could be the finish of this report. Here you’ll discover some web sites that we consider you will enjoy, just click the links over[…]

  38. التدريب العملي

    […]we like to honor quite a few other net websites around the internet, even though they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  58. Fiverr Earn

    […]that is the finish of this write-up. Right here you’ll uncover some web pages that we think you will enjoy, just click the links over[…]

  71. jute rugs

    […]although web-sites we backlink to beneath are considerably not connected to ours, we feel they’re basically really worth a go as a result of, so have a look[…]

  103. FiverrEarn

    […]just beneath, are quite a few absolutely not associated web sites to ours, even so, they may be certainly really worth going over[…]

  105. FiverrEarn

    […]please pay a visit to the web sites we stick to, which includes this one particular, as it represents our picks from the web[…]

  111. partners

    […]that would be the finish of this write-up. Here you’ll locate some web-sites that we assume you’ll enjoy, just click the links over[…]

  116. FiverrEarn

    […]that is the end of this report. Here you will find some websites that we think you will value, just click the hyperlinks over[…]

  119. FiverrEarn

    […]we prefer to honor quite a few other web websites on the net, even though they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  123. FiverrEarn

    […]although sites we backlink to below are considerably not related to ours, we really feel they are in fact really worth a go via, so have a look[…]

  126. Oil

    […]that may be the end of this post. Right here you’ll find some web sites that we consider you will appreciate, just click the links over[…]

  131. Kuliah Termurah

    […]we prefer to honor numerous other web websites around the net, even though they aren’t linked to us, by linking to them. Beneath are some webpages really worth checking out[…]

  140. slimming tea legit

    […]Wonderful story, reckoned we could combine some unrelated information, nevertheless definitely worth taking a appear, whoa did 1 master about Mid East has got far more problerms too […]

  153. allgame

    […]always a massive fan of linking to bloggers that I love but really don’t get lots of link really like from[…]

  157. pg slot

    […]very handful of sites that happen to become comprehensive beneath, from our point of view are undoubtedly well really worth checking out[…]

  159. cybersécurité

    […]although sites we backlink to below are considerably not related to ours, we really feel they’re really really worth a go by, so possess a look[…]

  163. evisa

    […]just beneath, are numerous totally not associated sites to ours, nevertheless, they may be certainly really worth going over[…]

  164. 450 bushmaster ammo

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless actually worth taking a look, whoa did 1 understand about Mid East has got additional problerms also […]

  165. ItMe.Xyz

    […]check beneath, are some totally unrelated sites to ours, having said that, they’re most trustworthy sources that we use[…]

  168. itme.xyz

    […]here are some hyperlinks to web-sites that we link to for the reason that we feel they may be really worth visiting[…]

  170. mzplay

    […]very couple of internet sites that take place to become comprehensive below, from our point of view are undoubtedly properly really worth checking out[…]

  171. wix seo

    […]Every the moment in a whilst we opt for blogs that we study. Listed below would be the most recent internet sites that we pick out […]

  174. cheap cam sex

    […]we prefer to honor a lot of other net internet sites around the net, even though they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  184. mixed breed pomeranian chihuahua

    […]Wonderful story, reckoned we could combine some unrelated data, nevertheless actually really worth taking a look, whoa did one particular discover about Mid East has got additional problerms also […]

  186. play net

    […]always a significant fan of linking to bloggers that I adore but really don’t get a whole lot of link appreciate from[…]

  188. french bulldog shih tzu mix

    […]we prefer to honor numerous other world wide web web pages around the net, even if they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  195. mexican candy store

    […]we like to honor several other world wide web web-sites on the net, even though they aren’t linked to us, by linking to them. Beneath are some webpages really worth checking out[…]

  199. black frenchies

    […]we prefer to honor several other world wide web web-sites on the web, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  201. french bulldogs to rescue

    […]Wonderful story, reckoned we could combine several unrelated data, nevertheless genuinely really worth taking a look, whoa did 1 learn about Mid East has got additional problerms at the same time […]

  207. dog probiotic

    […]just beneath, are several totally not associated web-sites to ours, having said that, they may be certainly really worth going over[…]

  209. mexican candy store near me

    […]we prefer to honor many other web websites on the internet, even though they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  211. nepo hat

    […]very handful of sites that transpire to become in depth below, from our point of view are undoubtedly properly really worth checking out[…]

  216. mexican candy bags

    […]Wonderful story, reckoned we could combine a number of unrelated data, nonetheless really worth taking a appear, whoa did 1 learn about Mid East has got far more problerms too […]

  217. linh

    […]although sites we backlink to below are considerably not associated to ours, we feel they may be actually really worth a go as a result of, so have a look[…]

  223. Dog Registry

    […]very couple of web sites that occur to become in depth below, from our point of view are undoubtedly very well worth checking out[…]

Top