Stocks renew slide on concerns of severe coronavirus hit
Stocks are falling again on Thursday as the economic impact of the global coronavirus spread becomes clearer.
The Dow was down more than 825 points, or about 3%, to around 26,265, at mid-day Thursday. The S&P 500-stock index declined around 2.8.% and the tech-heavy Nasdaq composite dropped 2.3%, erasing more than half their gains from Wednesday’s rally.
The Institute of International Finance predicted that U.S. economic growth would slow to 1.3% this year and that global expansion could hit its lowest level since the 2008 financial crisis.
[Source: CBS News]