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Stocks slide in U.S., Europe as virus worries dominate again

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The S&P 500 sank more than 2 per cent in early trading Thursday as the market swung back to fear about the effects of a fast-spreading virus in its latest yo-yo move.

Last Updated Thursday, March 5, 2020 11:25AM ESTNEW YORK -- And back down goes the U.S. stock market.

In China, where the number of new infections has been slowing drastically, Shanghai-traded stocks have rallied nearly 12% since hitting a bottom on Feb. 3. They're just 1.6% away from wiping out the last of the losses they've sustained since the new virus began to spread late last year. The S&P 500 was down 2.3%, as of 10:35 a.m. Eastern time. The Dow Jones Industrial Average fell 684 points, or 2.5%, to 26,406, and the Nasdaq was down 1.8%.

Travel-related companies continued to fall sharply on worries that frightened customers won't want to confine themselves in planes, boats or hotels with others. Royal Caribbean Cruises sank 12%, American Airlines Group lost 8.7% and MGM Resorts International fell 7.2%.

 

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