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Stocks tumble as virus fears spark sell-off; Dow falls 453

Posted On: Jan 27, 2020   |   Posted By: Boston Herald

By ALEX VEIGA and DAMIAN J. TROISE
U.S. stocks are closing with sharp losses as investors worry about the potential economic impact of the outbreak of a new virus from China. The declines in the U.S. followed a sell-off in markets in Europe and Japan. The Dow Jones Industrial Average fell 453 points, or 1.6%, to 28,535. The S&P 500 index fell 51 points, or 1.6%, to 3,243. The Nasdaq fell 175 points, or 1.9%, to 9,139. Investors headed for safer holdings. Bond rose and the yield on the 10-year Treasury fell to its lowest level since October. Gold prices also rose. Airlines and resort operators suffered steep losses.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
U.S. stocks tumbled Monday afternoon after China announced a sharp rise in cases of a new virus that threatens to crimp global economic growth.
The Dow Jones Industrial Average and S&P 500 each fell about 1.1%, giving up a significant portion of their gains for January. Airlines, resorts and other companies that rely on travel and...

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