NEW YORK: The impact of growing concern around the Corona virus was seen in Wall Street here, along with the global stock markets, on Monday, when the Dow Jones Industrial Average was down nearly 800 points, or 3 percent, at the start of trading.
Meanwhile, the White House economist said on Monday that the spread of the Corona virus in China will also have an impact on the US economy, although nothing can be said about the effect.
Wall Street had a declining trend in early Monday. Wall Street also fell 2.8 percent, or 800 points, to 28,191.85 points in the ten minutes of the start of trading, in view of the decline in other stock markets around the world. With this, the broad-based S&P 500 Dove fell 2.6 percent to 3,252.23 points and the Nasdaq Composite Index dominated by technology companies fell 3.1 percent to 9,282.16 points.
The effect of Corona virus, which started from China, is now beginning to appear in other countries of the world. The effects of the virus have also been observed in South Korea, Italy and Iran. It is also expected to have an impact on the US economy. The White House economist expressed this apprehension on Monday. Tomas Phillipson, acting director of the White House Economic Advisory Council, said, “I believe the real threat is the corona virus.”
