Wall Street opens 2% lower as Coronavirus hits California, airline stocks

U.S. stock indexes dropped more than 2% on Thursday as the swift spread of the coronavirus in the United States led California to declare an emergency, while airline stocks were hammered by crippled travel demand.

Down almost 12% last week - its worst since the 2008 financial crisis - the S&P 500 had recovered some poise as Joe Biden's surge in the Democratic primaries distracted traders from the widening impact of the virus. The benchmark index, however, is still about 7.5% below its record close on Feb. 19 and fears about the.....

This article is no longer available in our repository.

There could be multiple reasons for this.