Stocks Drop 1000 Points As Coronavirus Fear Returns

BREAKING NEWS: This Article On Stocks Drop 1000 Points As Coronavirus Fear Returns Was PUBLISHED On March 5th, 2020

After the Dow Jones had a market selloff and entered correction territory last week, the Dow had another selloff today dropping almost 1,000 points.

• Stocks drop 1000 points as the coronavirus fear returns with another death reported in the state of California
• The California governor declared a state of emergency today due to the first death from the contagious virus and more cases being reported
• The market selloff triggered treasuries falling below 1.0% and mortgage rates to tumble to a 50-year low
• The Dow plummeted more than 3,500 points last week triggering stock to correction territory
• Other equity markets followed the Dow’s downward spiral
• On Monday, stocks soared 1,293 points
• On Tuesday, the Dow dropped almost 800 points
• The Dow closed 1,100 points higher on Wednesday
• Today, stocks drop 1000 points wiping most of yesterday’s loss
• It has been a horrific week for the financial markets this week

In this article, we will discuss and cover how Stocks Drop 1000 Points As Coronavirus Fear Returns.

Stocks Drop 1000 Points And Other Markets As Well

Stocks Drop 1000 Points as new cases of the coronavirus resurfaces.

• California has reported its first death from the deadly virus
• The 10-year Treasury note dropped further now yielding under 1.0%
• Investors are concerned about growth and the slowing of the economy
• Yields on bonds tanked today to new lows
• The 970 point drop in the Dow Jones Industrial Average was a 3.6% drop on heavy trading today
• A lot of yesterday’s 1,100 point gain was lost today
• Investors continued selling stocks and putting the money into safer treasuries
• The drop in stocks and bond yields sent mortgage rates to a 50-year low
• This week was a very volatile week for the stock markets
• Over 1,000 point swings all week
• The S&P 500 has skyrocketed and/or plummeted at least 2% for four consecutive sessions making it the longest such stretch since August 2011
• Most experts expect future market volatility and chaos in the markets in the days and weeks to come depending on the coronavirus outbreak

There is no cure and/or vaccines for the coronavirus. Wall Street and the financial markets are prone to volatility when dealing with the unknown. The markets are testing new territories.

Worldwide Chaos And Uncertainty

The coronavirus is causing major chaos and unrest worldwide. Maria Windham of Gustan Cho Associates has been following the markets since the coronavirus outbreak back in December 2019.

Maria said the following:

The number of canceled conferences and travel has continued to rise as the virus has spread, crimping business activity and spending while roiling the outlook for global growth this year. Investors and analysts have slashed their outlooks for corporate profits this year. Many have been worried that the virus will harm consumer sentiment and business investment, though the true ramifications of the sickness remain unclear. All 11 of the S&P 500’s sectors fell in afternoon trading, sending the broader gauge 3.4% lower. The tech-heavy Nasdaq Composite shed 3.1%. All three major indexes are still on track for weekly gains of about 2%. That’s partly thanks to a dramatic rally Wednesday after a strong Super Tuesday performance by former Vice President Joe Biden drove big gains in shares of health insurers. The wild swings in the stock market have been a wake-up call for many investors after years of steadily climbing markets. For years it was ‘buy the dip’, ‘buy the dip’, ‘buy the dip. It’s very unsettling for people to see these kinds of moves every day. Investors are analyzing economic data for any signs of wilting growth. Data on Thursday showed that U.S. factory orders fell in January. New orders for manufactured goods decreased 0.5%, the Commerce Department said, more than what economists surveyed by The Wall Street Journal had expected. On Friday, investors will be parsing the monthly jobs report to see if U.S. hiring remained strong in February. The number of Americans applying for first-time unemployment benefits fell last week, the Labor Department said Thursday, suggesting anxiety about the spread of the coronavirus hasn’t yet affected layoffs.