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US Stocks, Oil Slammed Sharply Lower on Accelerating Coronavirus Cases; Dow Slides 3%

By 90DayFinancier in Current Events and Hot Social Topics

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90DayFinancier   910

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Investors ditched the assets in the wake of reports that the coronavirus continues to infect more people worldwide. Iran, Italy and South Korea reported sharp increases in infections, according to Reuters. Italy now has the world's third-largest concentration of coronavirus cases and the economy is "vulnerable to disruption from the coronavirus, being at serious risk of slipping into recession this quarter," said analysts at Daiwa Capital Markets in a note Monday.

In Europe, Italy's FTSE MIB sank more than 5% and the Euro Stoxx 600 fell nearly 4%. In Asia, South Korea's Kospi dropped 3.9%.

 

https://markets.businessinsider.com/news/stocks/safe-haven-assets-surging-coronavirus-fears-market-gold-usdollar-ustreasuries-2020-2-1028931786

 

Edited by 90DayFinancier
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