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Markets Plunge at Open

Dow tumbles more than 500 amid coronavirus fears
By Newser Editors,  Newser Staff
Posted Jan 27, 2020 7:56 AM CST
Updated Jan 27, 2020 8:40 AM CST
In a file photo, trader Timothy Nick works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – This might not be the day to check on your 401(k). US markets plunged at the 9:30am open over fears of the spreading coronavirus, reports CNBC. The Dow immediately fell 521 points before regaining some of that in the opening minutes. It was down about 450 points, or 1.6%, after 5 minutes or so. The S&P 500 and Nasdaq were in similar straits, down 1.6% and 2% respectively. Earlier, global markets also fell, as did crude oil, reports the Wall Street Journal. "It’s unclear how far it could have potentially spread," a fund manager at Invesco says of the coronavirus. "If it turns into a global health issue, that’s really the next piece of information that would worry us." (Read more stock market stories.)

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