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Dow Down as California Flags Jump in Covid-19 Infections

Stock MarketsFeb 27, 2020 02:26PM ET
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© Reuters.

By Yasin Ebrahim

Investing.com – Deeper selling returned to Wall Street, following a short-lived reprieve in afternoon trading Thursday, following reports of a sharp uptick in infections in California.

The Dow Jones Industrial Average was down 712 points, or 2.64%. The S&P 500 fell 2.51% and Nasdaq Composite slumped 2.70%

California Gov. Gavin Newsom said Thursday is monitoring at least 8,400 people for Covid-19, with 28 people in the state confirmed to have contracted the virus.

A day earlier, the CDC confirmed the first infection to a patient in California who did not have "relevant travel history or exposure to another known patient," raising concerns of a rapid outbreak.

The news sparked a renewed bid in safe havens, with 10-Year Treasury yields moving deeper into the red following a bounce off the record low of 1.24% seen early today,

In forex moves, the dollar continued to lose ground against yen. USD/JPY fell 0.5% to Y109.86.

Dow Down as California Flags Jump in Covid-19 Infections
 

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Comments (13)
George Pichurov
George Pichurov Feb 28, 2020 5:11PM ET
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hm, can it be a China retaliation against Trump trade wars...
Eric Peterson
Eric Peterson Feb 27, 2020 8:26PM ET
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are those 28 new infections or previous infections evacuated from the cruise ship etc?
michael brennick
michael brennick Feb 27, 2020 8:26PM ET
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No. The cruise ship is not included
Chazlin Naidoo
Chazlin Naidoo Feb 27, 2020 4:51PM ET
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Mr Benjamin I'm sure you are not affected as you are not yet infected. Maybe only then will reality strike you. There is no need for a stampede at hospitals. Local government can set up testing stations in the affected areas and people go there as if it was a normal day to place your vote. I'm sure when it's time to cast your vote you are 1st in line, you don't think of stampede. Here we are talking of a virus that is causing mass destruction not only financially but is a risk to everyone's well-being on the face of this earth. Or are you from Mars? I'm suggesting we help speed up the testing process so that we can identify and resolve the problem much quicker before chaos arises. This is what I call thinking out of the box, or do you think only as far as your nose. Stop being complacent and make a difference as people are dying and are infected on a daily basis. Let's all be constructive and stop being negative because I choose life over money & I love my neighbour as I love myself.
Chazlin Naidoo
Chazlin Naidoo Feb 27, 2020 4:18PM ET
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The only way to control Covid19 is we all go ourselves to our nearest hospitals, clinics etc and get tested instead of waiting to hear that the virus is roaming somewhere in our community. Our local governments should set up testing stations country wide throughout the world and distribute masks as a safety precaution and once you are negative you should be given some type of documentation as proof. I think that wherever we are in the world, we should draft petitions and get as many people to sign so that government can intervene asap especially in the affected areas. We can't wait for the FED or others to wake up when it will be too late we have to do something collectively and unite and only then will we get somewhere. The Dow just plunged 1900 points, fear causing selling which means this virus is no joke good people. Can someone pls agree to my suggestion???
Benjamin McIntire
Benjamin McIntire Feb 27, 2020 4:18PM ET
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Nobody is saying to stampede hospitals. Stop spreading lies.
Faisal Aleisa
Faisal Aleisa Feb 27, 2020 4:18PM ET
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I disagree for one reason , if you suggest that everyone goes to the hospital and get checked if he's positive or negative it will cause a chaos in hospitals and negative people will get infected because of your suggestion I suggest that everyone stay home and wait for the vaccine
Aditya Aditya
Aditya Aditya Feb 27, 2020 4:18PM ET
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this isn't china..
Faisal Aleisa
Faisal Aleisa Feb 27, 2020 4:11PM ET
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I think the stocks were ready for a crash as you all know there's no such thing as always up
Richard So
Richard So Feb 27, 2020 4:02PM ET
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X times more deadly than the common flu ... you don't know how many have been infected.
Azam Khan
Azam Khan Feb 27, 2020 4:02PM ET
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Hahaha, get ready for reccession like 2008
Belal Hazam
Belal Hazam Feb 27, 2020 4:01PM ET
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next week it'll be a lot of selling
Christos Rammos
Christos Rammos Feb 27, 2020 3:13PM ET
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Commin flu kills more people than coronavirus
Moses Yang
Moses Yang Feb 27, 2020 3:13PM ET
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poor man,you must have lost a lot in recent days. Boohoo boohoo
Holly Sorensen
Holly Sorensen Feb 27, 2020 3:13PM ET
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wrong. flu kills .01% while Covid19 kills 2 to 3 % and do the mathe thats 20 times more people than the flu. take world population and do the 2.5% deaths from that number. and when its your friends and family ...it gets real...real fast
Deepak Mangtani
Deepak Mangtani Feb 27, 2020 3:13PM ET
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well, I think the govt is really understating the impact of the virus. I mean, we have a lot of evidence suggesting that China is burning 1000's of bodies everyday, to prove that virus is no big deal. Plus we had Swine flu in 2010 or so, and not many countries were shutting factories, restricting travel etc..
Lisa Klenzak
Lisa Klenzak Feb 27, 2020 3:13PM ET
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Holly Sorensen  , they can't do that kind of math!  :-)  It doesn't play into their propaganda
Christos Rammos
Christos Rammos Feb 27, 2020 3:12PM ET
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When the weather gets warmer the virus will be vanished all this is manipulation
Wojciech Cies
Wojciech Cies Feb 27, 2020 3:12PM ET
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Like all those infections in Thailand or Singapore?
Thom Miller
Thom Miller Feb 27, 2020 3:05PM ET
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I think we should build a wall around the White House and make the “leader” of the Senate pay for it. LOL!
Chris Martin
Chris Martin Feb 27, 2020 3:05PM ET
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Rhom, LOL, You're a little "funny", aren't you?!
Christos Rammos
Christos Rammos Feb 27, 2020 3:05PM ET
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It is just a flue..
Bill Howells
Bill Howells Feb 27, 2020 3:05PM ET
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But a flu that is about 25 times more deadly than the common flu and there's the rub.
Pavol Graf
Pavol Graf Feb 27, 2020 3:05PM ET
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very good one :)
Colea Ranutu
Colea Ranutu Feb 27, 2020 3:05PM ET
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looking at how the market reacts you seem to be the only one believing that
Jean Claude Martineau
Jean Claude Martineau Feb 27, 2020 3:05PM ET
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Long indices??
Co Gonz
Co Gonz Feb 27, 2020 2:52PM ET
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now's a great time to build a wall around Cali..
Chris Martin
Chris Martin Feb 27, 2020 2:52PM ET
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Ol' Thom would have to stay there ??? A thought !
 
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