Stocks are being hit hard by concerns over rising coronavirus cases. The escalating spread of the coronavirus rattled global markets for another session, sending share prices tumbling as investors’ concerns mount.
A report that the U.S. is weighing even tighter China travel restrictions amid the coronavirus outbreak has pushed stocks to new session lows — with the S&P 500 Index turning red for the year. Recall that on Thursday, the U.S. already issued a “Level 4” travel warning to dissuade trips to the world’s second-largest economy…
Delta’s move to suspend all flights to China — amid reports that American Airlines may follow suit — help ratchet up coronavirus fears in the market.
Dozens of carriers including United, Cathay Pacific, British Airways and others have slashed or suspended service to China because of the outbreak. Delta was the first in the U.S. to suspend service altogether.
U.S. health officials have quarantined 195 Americans evacuated from Wuhan, China, taking the rare step of issuing a mandatory order for the first time in more than 50 years to help contain an outbreak of a new coronavirus that’s spread to roughly 10,000 people across the globe. “While we recognize this is an unprecedented action, we are facing an unprecedented public health threat,” Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases, said on a conference call with reporters Friday.
MacDailyNews Take: As of publication, shares of Apple are currently down $10.58 (-3.27%) per share to $313.29 after marking a session low of $310.05. This too shall pass.