US stock markets continue to plunge over coronavirus uncertainty

(NEW YORK) — The Dow Jones Industrial Average plummeted more than 900 points on Friday, as financial markets continue to plummet on uncertainty over the spread of the novel coronavirus.

The Dow suffered its worst week since the financial crash of 2008.

The S&P 500 and Nasdaq similarly declined Friday, both opening down by approximately 2%. The Dow was down by more than 3%.

Overall, the Dow has lost more than 3,500 points this week.

The plunge comes as the U.S. Food and Drug Administration announced it’s been alerted to the first manufacturing shortage of a drug due to a viral coronavirus outbreak that began in China and has now reached American soil.

Officials also warned Americans earlier this week to prepare for community spread of coronavirus in the U.S., and companies have warned investors of supply chain issues related to the outbreak.

This is a developing story. Please check back for updates.

Copyright © 2020, ABC Audio. All rights reserved.

Submit a Comment