Wall Street set to open sharply lower as China virus fear mounts

REUTERS: U.S. stock indexes were set to open more than 1per cent lower on Monday on concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and businesses shut down some operations.

Yum China Holdings Inc fell 7per cent after the company said it had temporarily closed some of its KFC and Pizza Hut stores in Wuhan. "The Dow is up a stunning 3,000 points in just over three months – it hardly needs an excuse to see volatility elevated." At 9:00 a.m. ET, Dow e-minis dropped 443 points, or 1.53per cent. S&P 500 e-minis fell 50.75 points, or 1.54per cent and Nasdaq 100 e-minis slid 167.75 points, or 1.83per cent.

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