Major US indices suffered their worst session thus far in 2020 and followed European and Asian bourses lower, with the Dow Jones Industrial Average falling 453.93 points to end at 28,535.80.The broad-based S&P 500 fell 51.84 points to 3,243.63, while the tech-rich Nasdaq Composite Index dropped 175.60 points to 9,139.31.
As of Monday, more than 2,700 people have been infected across China, the bulk of them in and around Wuhan. But there also have been cases in other parts of Asia, as well as Europe and North America. "I think it's very logical, especially given that the sectors that would be affected by any slowdown are getting hit the hardest."
Adding to that dynamic, analysts have pointed to an earnings season thus far that has seen companies largely meet expectations, but not exceeded them.