Stocks – Wall Street Falls at Opening on Fresh Virus Fears

This post was originally published on this site — U.S. stock markets opened the week in negative mood, as concerns about the persistent risk of renewed outbreaks of the coronavirus prompted fears that the rally in recent weeks may have gone too far, too fast.

By 9:35 AM ET (1335 GMT), the Dow Jones Industrial Average was down 238 points, or 1.0% at 24,103 points. The S&P 500was down 0.7%, while the Nasdaq Composite was down 0.4%. 

The mood was overshadowed by reports suggesting multiple White House staff had either contracted or been exposed to the Coronavirus, including vice-president Mike Pence. Negative earnings reports from hotel operator Marriott and concern about Tesla’s falling sales in China also weighed. Tesla  (NASDAQ:TSLA) stock opened 3.4% lower.