January 27, 2020•120 words
Wall Street closed deeply in the red on Monday, as the coronavirus outbreak worsened. A fifth case of the virus was confirmed in the United States and the overall death toll climbed to 81. Travel, gambling, and technology stocks led declines, as major disruptions for the Chinese economy are expected. Oil prices fell nearly 2% and safe-haven assets rallied. On the macro side, US new home sales unexpectedly fell in December and numbers for the previous three months were downwardly revised. The Dow Jones lost 454 points or 1.6% to 28536. The S&P 500 retreated 52 points or 1.6% to 3244. The Nasdaq shed 176 points or 1.9% to 9139.