Dow Nosedives After New York Coronavirus Panic Spooks Stock Market

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Coronavirus fears of outbreaks have reached the gates of the city of New York. | Source:. REUTERS / Brendan McDermid

  • holders negative coronavirus caused a painful reversal in the Dow Jones on Wednesday
  • Fears of a break in New York and one confirmed case US reached the market Lasted.
  • wild movements in the Dow eclipsed the data of positive housing market.

    The Dow Jones fell after a brilliant start to the day as the news that 83 people are being monitored for coronavirus in New York.

    Wednesday had been promising for bulls Dow after the publication of data robust new home sales, but holders of virus fell like a ton of bricks in a nervous market values.

    Dow Jones plummets After Bright Start

    The three major stock indexes in the United States fell sharply from its session highs on Wednesday as fears of coronavirus seized the Empire State.

  • Dow declined 102 points or 0.38% to 26,979.36.
  • S & P 500 dipped 0.3% to 3118.97.
  • The Nasdaq clung to gains of 0.21% to trade at 8, 984.88.

    The Dow had risen more than 460 points during the morning session. A nerve Dow Jones fell sharply after a series of headlines coronavirus scared the stock market in the afternoon session. | Source: Yahoo Finance

    In the commodity sector, risk appetite appeared mixed

    Crude oil fell more than 2.3%, taking the psychological floor critic $ 50 barrel to settle at a minimum of one year. .

    The price of gold fell 0.2%, while silver metal shelter companion plunged more than 1.7%. A growing glances US dollar have been the main cause of this weakness. Advertising

    The benchmark yield on 10-year Treasury continued to struggle, reaching a new record low of 1.3% as investors sought safe haven in bonds.

    fails strong housing data market in Spur one Dow recovery

    will help drive an initial rebound in the Dow Jones was slightly better than expected new home sales in the United States. The looks of the US housing market buoyant after showing a clear rebound from disappointing data last month.

    Yelena Maleyev, an economist at Grant Thorton, said supply is all that prevents this from becoming the "hottest real estate boom. decades "

    But he refused to rule out a demand shock since the outbreak of coronavirus: there were

    If only about one million more homes on the market, you might be experiencing the hottest housing boom in decades.

    That said, COVID-19 is an extraordinary event, and such events raise doubts, especially when it comes to making a big commitment such as buying a house. That could undermine gains this spring.

    Maleyev is obviously not predict a fall in the housing market, but if the Dow continue the fight, the impact of investments and savings is definitely going to dampen demand.

    USA Market could be extra 'vulnerable' to Coronavirus

    Donald Trump's efforts to calm the fears of the stock market over the coronavirus have so far fallen on deaf ears.

    It seems increasingly likely that an unhappy president's why transcription blockbuster wheel CDC on Tuesday curiously was not released for nearly 24 hours.

    automatic reaction in the Dow Jones remains coronavirus headlines shows how nervy feeling on Wall Street. Advertising

    A potential break in Nassau County, New York - which borders Queens - landed has 83 residents in voluntary isolation p> No infections have been confirmed yet, but authorities did not they are taking any <. possibilities given its proximity to the high population density of New York City.

    A wobbly Dow Jones may be exposed only to the coronavirus. Toros weather promotes US equities as a haven for foreign investors against the outbreak. . But analyst Bloomberg Opinion Nir Kaissar believes that the market US is "particularly vulnerable" to the global health crisis

    Kaissar wrote:

    What is unclear it is that stock markets would suffer the sharpest declines. That obviously depends on how the crisis develops -., Where the virus spreads, how many people are affected, the impact on regional economies and trade routes, etc.

    But it also depends on the extent to which the markets have already digested the potential risks, and by that criterion, the stock market US appears particularly vulnerable.

    risks will only grow along with the number of confirmed cases in the continental United States.

    Dow Actions: Apple robust, Disney Dips After Iger Exit

    was a weak day in the Dow 30 as a good surge of 1.7% in apple did not help the index recovered significantly .

    Disney shares was the worst performing member of the Dow Jones. DIS fell more than 3.2% after CEO Bob Iger left. Advertising

    Iger had a huge success at the helm of Disney, overseeing the rise of historical Marvel movie franchise of Disney. Investors seem to be upset before its planned departure in 2021.

    Helping to limit losses, Boeing was quite strong in the day, managing a concentration of 0.45%.

    3M had finished 1.8% higher, possibly due to excessive demand their masks amid the outbreak of coronavirus. Unfortunately for investors, who are struggling to climb its supply chain to meet demand.

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