U.S. stocks tumbled for a sixth consecutive session as the rapid spread of coronavirus fueled global economic growth fears
- Wall Street’s main indexes tumbled for the sixth straight session on Thursday, reaching a territory that could mark a nosedive from record highs last week amid a global spread of coronavirus that intensified fears about growth and earnings.
The indexes were set for their steepest weekly pullback since the global financial crisis, as new infections reported around the world surpassed those in mainland China. “There’s a lot of uncertainty right now about where that impact lands ... it’s also possible that forecasts are over-reacting to the downside.”
At 1:17 p.m. ET, the Dow Jones Industrial Average was down 285.48 points, or 1.06%, at 26,672.11, the S&P 500 was down 30.33 points, or 0.97%, at 3,086.06. The Nasdaq Composite was down 115.31 points, or 1.28%, at 8,865.46. All of the 11 S&P sectors were trading lower with technology, financials, energy and real estate sectors losing more than 1%.
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