Markets shudder again on virus fears, extending recent rout


NEW YORK (AP) – Investors are dumping stocks again as fears spread that the growing coronavirus outbreak will weigh down the global economy.

The S&P 500 is now 10% below the peak it set last week and is headed for its worst weekly loss since October 2008. Investors continue to shovel money into ultra-safe assets like bonds. More companies including Microsoft and Budweiser maker InBev are warning their results will be hurt.

The Dow Jones Industrial Average lost 599 points, or 2.2%, to 26,367, moderating its earlier loss. The S&P 500 lost 72 points, or 2.4%, to 3,043. The Nasdaq fell 222 points, or 2.5%, to 8,755.

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