Dow Down as California Flags Jump in Covid-19 Infections
Investing.com
Published Feb 27, 2020 02:11PM ET
Updated Feb 27, 2020 02:26PM ET
By Yasin Ebrahim
Investing.com – Deeper selling returned to Wall Street, following a short-lived reprieve in afternoon trading Thursday, following reports of a sharp uptick in infections in California.
The Dow Jones Industrial Average was down 712 points, or 2.64%. The S&P 500 fell 2.51% and Nasdaq Composite slumped 2.70%
California Gov. Gavin Newsom said Thursday is monitoring at least 8,400 people for Covid-19, with 28 people in the state confirmed to have contracted the virus.
A day earlier, the CDC confirmed the first infection to a patient in California who did not have "relevant travel history or exposure to another known patient," raising concerns of a rapid outbreak.
The news sparked a renewed bid in safe havens, with 10-Year Treasury yields moving deeper into the red following a bounce off the record low of 1.24% seen early today,
In forex moves, the dollar continued to lose ground against yen. USD/JPY fell 0.5% to Y109.86.
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