US stocks suffer massive losses on mounting fears over coronavirus spreading

Dow Jones and S&P 500 stock

Dow Jones and S&P 500 stock indexes tanked as trading in the US opened on Monday following an earlier sell off in European and Asian markets amid concerns the coronavirus epidemic may lead to a prolonged global economic slowdown.

The Dow Jones Industrial Average shed more than 970 points or 3.4 percent – the biggest one-day point loss since February 2018, when it fell more than 1,000 points. The S&P 500 plummeted more than 3 percent and the Nasdaq Composite was down nearly 4 percent after the opening bell.

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