Global and U.S. markets dramatically fell Monday as fears over the deadly coronavirus continues to affect markets. "Investors are selling first and asking questions later," Chris Zaccarellis, chief investment officer for Independent Advisor Alliance, wrote in an email to clients. "The Chinese economy--and possibly the world economy--will take a hit in the short run and lower prices are a rational response to the increasing spread of the coronavirus."
Here's how the stock market closed on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, Inovio Pharmaceuticals
In Stock Sector News, all 11 sectors took a dive on Monday as market participants massively sell off stocks. The performance declines are as follows: Energy -2.76%, Information Technology -2.36%, Materials -2.10%, Industrials -1.87%, Communication Services -1.69%, Financials -1.54%, Consumer Discretionary -1.52%, Health Care -0.74%, Real Estate -0.41%, Consumer Staples -0.32% an Utilities -0.30%.
Lastly, in Commodity and Currency News, oil prices are continuing their steep descent on Monday as investors fear that global trade will halt as the coronavirus spreads. West Texas Intermediate