By Justin Pei
Rochester, NY–Stocks plunged sharply on Monday as the number of new coronavirus cases outside of China, sparking continuing fears of a prolonged global economic slowdown as a result of the virus. Italy reported more than 150 cases of coronavirus while Iran saw 8 deaths on Sunday.
Stocks in the U.S. are on track for a 3rd consecutive session of losses. The Dow Jones dropped over 800 points or 3.1%. The S&P 500 fell 3% while the Nasdaq Composite slid 3.5% lower. The biggest losses were in the technology and airline Sectors. Shares of Apple fell 4.5% in early market trading. American Airlines shares dropped 9.8%, a four month low while shares of Delta were down 7%. United Airlines was also off by 4%.
In Europe, the Stoxx 600 dropped 3% while in Asian, the Hong Kong Hang Seng Index was down 1.8% or 487.93 points.
