Updated Feb 24, 2020 - Economy & Business

Stocks fall more than 3% as coronavirus cases spike

Trader grips his head on the trading floor
Photo: Johannes Eisele/AFP via Getty Images

Wall Street had its worst day in two years on Monday, following a spike in coronavirus cases in South Korea and Italy. The S&P 500 fell 3.3%, the Nasdaq Composite fell 3.7% and the Dow Jones Industrial Average sunk 1,030 points (3.5%).

The big picture: This is the U.S. stock market's biggest reaction thus far to the coronavirus, largely shrugging it off as a threat to the global economy (though the bond market has not). While the S&P is down from record highs — which it notched last week — the index is still above lows touched earlier this year.

Data: FactSet; Chart: Axios Visuals
Data: FactSet; Chart: Axios Visuals
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