Dow Futures dropped 400 after a report of the first coronavirus case in Northern California, of unknown origin. The drop has come even after Donald Trump gave assurances to the investors that the virus is under control and there is no call for alarm.
The U.S. stock market is suffering from huge losses in its value due to coronavirus fears that have gripped investors.
Dow Futures started brightly on Wednesday morning but reversed course through the early hours. Investors are waiting for updates on the coronavirus infections around the world, especially in China, South Korea and Italy.
All three U.S. stock market indices – Dow Jones, S&P 500, and Nasdaq – plunged for the second-straight day, around 3% on Tuesday. Besides traditional stocks, the commodities sector is also under massive selling pressure.
The Dow Jones futures plummeted quite terribly yesterday. However, today, it has gained almost 300 points on its way to recovery.
The U.S. markets show a significant drop on Monday morning due to the coronavirus fears and uncertainty. People rush to sell the coins, experts now expect Bitcoin price to go below 9,000.
As part of a massive market crash on Monday, Big Tech companies ended up losing billions-of-dollars of investors’ wealth. Apple is the most-affected Big Tech company from the Coronavirus outbreak as it largely depends on China for its manufacturing.
Today the price of Plug Power (PLUG) stock is falling. But its recent market performance has shown that it could become the new Tesla.
As Apple feels the heat from the coronavirus, AAPL stock is plunging and it looks like things might get worse for other tech stocks as well.
Amazon (AMZN) is not the only stock that went down. Because of coronavirus, China will stop providing necessary physical and virtual services to the U.S. As a result, the market reacts with the overall drop in prices.
Global markets across Europe and Asia have plunged severely on Monday as South Korea and Italy report several new affected cases of the coronavirus on Sunday. Analysts request investors to maintain caution at this stage.
The noise around coronavirus is growing. Stocks in Asia are falling due to this situation and there are no signs of improvements.
Dow drops 280 points, stocks down thanks to coronavirus panic in the U.S. investors pour cash into treasuries and gold. Market analysts predict corporate and personal income fall in the next months. Favipiravir needs tests to cure coronavirus.
S&P 500 and Nasdaq Composite, as well as Dow Jones Industrial Average index, have set new records as tech stock has jumped. Some stocks, like Virgin Galactic (SPCE), are also in green.
Tesla (TSLA) stock is moving higher and regularly conquers new peaks despite all the negative expectations. One of the reasons is the fact that top investors believe in it.