NEW YORK (AP) – Stocks are falling sharply on Wall Street as fears of economic fallout from the coronavirus outbreak grip markets again.
Major indexes are off more than 3% Wednesday, and the Dow industrials were down 1,000 points at one point. European indexes were up slightly.
The Bank of England cut its key interest rate as an emergency measure in response to the outbreak of the virus, following similar moves by central banks in the U.S. and Canada. The European Central Bank is likely to offer support on Thursday.
Countries are shifting into damage-control as infections spread, prompting sweeping controls on travel and other public activities.