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US stocks drop on worries China virus will crimp growth

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NEW YORK (AFP) - Wall Street stocks dropped early Thursday (Jan 23) on worries that the coronavirus will crimp growth in China as major companies reported mixed earnings.. Read more at straitstimes.com.

NEW YORK - Wall Street stocks dropped early Thursday on worries that the coronavirus will crimp growth in China as major companies reported mixed earnings.

Briefing.com analyst Patrick O'Hare said there are also fears the virus will spread to other Asian countries and cause economic damage."At this juncture, it would have to be labeled an exaggerated fear but worries tend to get exaggerated and investor psychology tends to get rattled more easily in markets trading at a high valuation," O'Hare said.The broad-based S&P 500 dipped 0.6 per cent to 3,311.23, while the tech-rich Nasdaq Composite Index slipped 0.2 per cent to 9,366.

 

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