Virus News Brings Unwanted Milestone to the Dow

Index is down 10% from its record high of 2 weeks ago, on track for official 'correction'
By Newser Editors,  Newser Staff
Posted Feb 27, 2020 8:59 AM CST
Dow Is Now in 'Correction' Territory
Stock traders work at the New York Stock Exchange, Wednesday, Feb. 26, 2020.   (AP Photo/Mark Lennihan)

Another morning of bad news on the coronavirus front has led to yet another bad morning on Wall Street. The Dow fell more than 500 points, about 2%, in the opening minutes, putting the index down 10% from its record high of two weeks ago, reports the AP. If the market closes that way, it qualifies as an official "correction," per the Wall Street Journal. The American drop follows similar decreases in European and Asian stocks—the Stoxx Europe 600 fell 4%, Japan's Nikkei 225 fell 2.1%, and South Korea’s Kospi fell 1%. (Read more stock market stories.)

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