Wuhan Coronavirus Cases Outside of China Surge, Dow Drops Almost 900 Points
Posted on 02/24/2020
U.S. stocks nosedived on February 24, 2020 as the number of Wuhan Coronavirus cases outside China jumped. The spread of the outbreak has impacted lives and restricted global supply chains, trade, and commerce. The Dow Jones Industrial Average dropped 886 points lower, or 3.1%.
China is the world’s largest exporter and second largest economy. China is also an exporter of raw material in sectors such as pharmaceuticals.
Airline stocks continue to fall, as travelers are avoiding Asia.
ILNA, Iran’s news agency, reported 50 people died in Qom from the coronavirus. Italy has experienced 152 infected cases, compared to just three cases (ten days ago). Events and soccer matches were canceled in Italy.
Cases in South Korea increased to 763 on February 24, 2020.
