Currents News Staff
The DOW opened 750 points lower on Friday, Feb. 28 — its seventh straight day in the red as coronavirus fears continue to mount.
The broader S&P 500 opened down 2.8 percent, and the NASDAQ composite fell nearly three percent.
All three major indexes are on track for their worst week since October 2008.
Around the globe, financial markets, storefronts, public events and businesses are seeing the strain of the ongoing coronavirus outbreaks.
The World Health Organization said Feb. 28 the risk of the virus spreading worldwide was “very high.” The virus causes an illness known as COVID-19, a new respiratory virus which originated in Wuhan, the capital of Central China’s Hubei province.
Also Feb. 28, South Korea counted 571 new cases of coronavirus, exceeding the number of cases found in China.
According to the Associated Press, Lithuania, Mexico, New Zealand and Nigeria are among the nearly 60 countries to have reported new cases of the virus in the past weeks.
Meanwhile, in Italy where Venice Carnival and public Lenten religious gatherings have been canceled as a result, 20 people were arrested for selling masks for as much as 5,000 euros ($5,520) each, under the claim they offered full protection from COVID-19.
From Europe, to Asia and now Wall Street, stocks have continued to fall as public concern for the spread of the virus grows.