US stocks tumble again as coronavirus fears mount

Business

NEW YORK — US stocks tumbled once again on Friday, as coronavirus fears continue to mount. Equities are on track for their worst week since the financial crisis.

The Dow opened 750 points, or 2.9% lower on Friday — its seventh-straight day in the red. The broader S&P 500 opened down 2.8%. The Nasdaq Composite fell 2.9%.

The Dow dropped 3,226 points in the first four days of the week, including its worst one-day point drop in history on Thursday. All three major indexes are on track for their worst week since October 2008.

As the novel coronavirus continues to spread around the world, countries are scrambling to respond. Economists and investors are concerned about the outbreak’s impact on economic growth and corporate earnings. Various American multinational companies, including Apple and Microsoft, have warned that they won’t meet their earnings guidance because of disruptions from the virus.

A trader reacts during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. (Photo by JOHANNES EISELE/AFP via Getty Images)

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