Dow plunges more than 900 pts at close
Equities in the United States dropped sharply at the close on Thursday as the coronavirus keeps spreading at a fast pace. US Senate approved allocating $8.3 billion in funding to fight against the COVID-19 outbreak. Also, Health and Human Services Secretary Alex Azar said he expects enough coronavirus tests will get to the public laboratories until the end of this week to test approximately 400,000 people.
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Meanwhile, the US Census Bureau reported US factory orders were down 0.5% in January. On the other hand, the US Department of Labor said US initial jobless claims dropped by 3,000 to 216,000.
The Dow Jones Industrial Average index declined by 3.58%, or 970 points at the close. United Technologies Corp was the worst performer, plunging 9.06%. The Nasdaq 100 fell by 3.10% as the trading session ended. American Airlines Group dropped the most, 13.44%. The S&P 500 lost 3.39% at the closing bell as Royal Caribbean Cruises Ltd plummeted 17.20%.
The euro was flat compared to the dollar to change hands at 1.12285 at 4:03 pm ET.
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