REUTERS: The Dow Jones Industrials index was set to shed nearly 800 points at the open on Monday as investors scurried to safer assets after a surge in coronavirus cases outside China stoked fears of a bigger impact to global growth.
Last week, Wall Street's main stock indexes had risen to record highs on optimism that the global economy would be able to snap back after an initial hit, supported by central banks. Chipmakers including Advanced Micro Devices Inc, Micron Technology Inc and Nvidia Corp, which are heavily reliant on China for revenue, slid between 6.4per cent and 8per cent.Rate-sensitive bank stocks also fell. Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co, Goldman Sachs, Wells Fargo & Co and Morgan Stanley were all down between 2.2per cent and 4.8per cent.
At 8:43 a.m. ET, Dow e-minis were down 817 points, or 2.82per cent. S&P 500 e-minis were down 90.25 points, or 2.7per cent and Nasdaq 100 e-minis were down 279.5 points, or 2.96per cent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fear of coronavirus pandemic grows but China eases curbs as new infections fallBEIJING/SEOUL (Reuters) - Fears of a coronavirus pandemic grew on Monday after sharp rises in new cases reported in Iran, Italy and South Korea but China relaxed restrictions on movements in several places including Beijing as its rates of new infections eased. The surge of infections outside mainland
Source: YahooSG - 🏆 3. / 71 Read more »
Asia shares slide, gold surges as coronavirus spread raises pandemic fearsSYDNEY (REUTERS) - Asia shares and oil tumbled on Monday (Feb 24) while safe-haven gold soared to a seven-year high as the spread of the coronavirus outside China accelerated with sharp rises in infections in South Korea, Italy and Iran, raising pandemic fears.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Global spread of coronavirus raises pandemic fearsSEOUL: Fears grew on Monday (Feb 24) that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Global spread of coronavirus raises pandemic fearsSEOUL/SHANGHAI (Reuters) - Fears grew on Monday that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries around the world, after sharp rises in infections in South Korea, Italy and Iran. A surge of infections in South Korea and Italy, and
Source: YahooSG - 🏆 3. / 71 Read more »
Australia: Shares fall most since mid-August on coronavirus fearsRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Expelled Wall Street Journal reporters leave China after headline rowTwo Wall Street Journal reporters left China on Monday after being expelled over a controversial headline in an op-ed that angered Beijing.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »