Shutterstock
The U.S. stock market took a major dive on Monday, February 24 amid growing concerns about the coronavirus which has been rapidly spreading outside of China. With more than 2,400 deaths from the virus and more than 78,000 cases, the markets are showing concern, according to CNBC.
On Monday morning, the Dow Jones Industrial Average plunged 900 points (3.1 percent) and the S&P 500 Index dropped 100 points (3 percent).
Outside of China, there are major concerns in South Korea and Italy. In South Korea, there have been more than 830 reported infections while a recent outbreak in Italy has topped 220 cases.
With the virus impacting world travel that Chinese manufacturing relies on and the Chinese share of the global market, it remains to be seen just how far the markets will crash.
https://www.instagram.com/p/B89CT13gjhb/
The coronavirus mainly comes from animals and a majority of those who were infected early either worked at or frequently visited the Huanan seafood wholesale market in Wuhan, according to The Guardian. The virus is similar to Severe acute respiratory syndrome (Sars) and Middle Eastern respiratory syndrome (Mers).
The Wuhan coronavirus is transmitted from person to person through “droplet transmission.” That means an infected person can pass the virus by sneezing or coughing on another person as well as by direct contact.
While a majority of the cases have been detected in China, it has now reached many countries around the world including the United States. It has also been confirmed in Italy, Australia, Canada, France, Germany, and many other eastern countries.
That is all the information that is available at this time. This article will be updated with new and relevant information should it become available at any time. If there is anything that we missed, please feel free to send an email to editor@teamcoedsite.wpengine.com and we will respond as soon as possible.
