The New York Stock Exchange’s Dow Jones Average Industrial Index fell more than 1,000 points because of coronavirus spread news, which is the largest 100-year decline since being measured. Economists anticipate a gloomy scenario due to the decline in the value of equities and bonds around the world.
The S & P500 index of the New York Stock Exchange fell 4.42% as a result of spectacular sales growth on international financial markets, as information about the spread of the coronavirus epidemic appears. The US stock market fell more than 10 percent from last Friday’s level, being the largest drop since the global financial crisis of 2008.
The Dow Jones Average Industrial Index fell by 1,190.95 points, being the largest one-day nominal drop in over 100-year history since being measured. Investors sell shares and rush to buy bonds issued by the US federal state. Increases in the bond markets result in unimportant interest. The US Treasury notes with a maturity of 10 years reached a yield of 1.264%, the lowest in history.
Investors fear a slowdown in the global economy. Already, the US investment bank Goldman Sachs has cut profit growth prospects for US corporations to zero.