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Dow futures plunge 400 points on coronavirus spread
All three major averages were in the red on Friday
FOX Business’ Jackie DeAngelis says coronavirus fears caused selling pressure on the floor of the New York Stock Exchange.
U.S. equity futures are pointing to a large decline in stocks on Monday morning on concerns about the spread of coronavirus outside China, with Italy, South Korea and Iran seeing a big jump in infections.
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The major futures indexes are indicating a decline of 1.3 percent when trading begins on Wall Street.
Economically sensitive oil is tumbling for a second day.U.S. crude is trading at $52.12, down 2.4 percent. Brent crude is trading at $57.05, down 2.5 percent.
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Safe-haven gold surged more than 1 percent to a fresh 7-year high. Currently at $1,663.
In Asian markets, Hong Kong's Hang Seng is down 1.5 percent and China's Shanghai Composite is off 0.3 percent. Japan's markets are closed for a holiday.
DOW JONES AVERAGES
NASDAQ COMPOSITE INDEX
The decline is a continuation of the selling the markets experienced on Friday. The S&P 500 index fell 1.1 percent, while the Dow Jones Industrial Average lost 0.8 percent and the tech-heavy Nasdaq Composite slipped 1.8 percent.