02/24/2020

The Dow Jones Industrials fell more than 800 points within minutes of the market open on Monday as investors scurried to safer assets after a surge in coronavirus cases outside China stoked fears of a bigger impact to global growth.

The benchmark S&P 500 fell below its 50-day moving average, while the blue-chip Dow slipped below its 100-day moving average, all closely watched indicators of momentum.

The Dow Jones Industrial Average fell 589.48 points, or 2.03%, at the open to 28,402.93.

The S&P 500 opened lower by 80.14 points, or 2.40%, at 3,257.61. The Nasdaq Composite dropped 388.15 points, or 4.05%, to 9,188.44 at the opening bell.

Reuters (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)