NEW YORK, Jan 28 ― US stocks suffered their worst day in over three months yesterday as China extended the Lunar New Year holiday due to a virus outbreak, fueling worries about the economic impact of containment efforts in the world's second largest economy. The benchmark S&P 500 suffered its...
The Dow Jones Industrial Average fell 453.93 points, or 1.57 per cent, to 28,535.8, the S&P 500 lost 51.84 points, or 1.57 per cent, to 3,243.63. — Reuters pic
“This whole thing is way overblown,” said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco. Adding to downside pressure was the sluggish start to corporate earnings season with indexes near record levels. Technology and internet heavyweights that have powered the recent rally including Apple Inc, Microsoft Corp , Alphabet Inc and Amazon.com Inc, which account for about 15 per cent of the S&P 500 weighting, lost at least 1.6 per cent.
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