Dow DIVES as Trump Administration Puts Travel Restrictions in Place to Address Growing Coronavirus Fears
The Dow fell 600 points on Friday amid fears over the coronavirus, as the Trump administration announced increased travel restrictions to combat the crisis.
The Dow and the S&P 500 reportedly experienced “their worst day since October,” Monday, and airline stocks dropped.
According to MarketWatch, “The Dow Jones Industrial Average was down 626 points, or 2%, at 28,301,” the “S&P 500 shed 53 points, or 1.6%, at 3,230,” and the “Nasdaq Composite Index retreated 125 points, or 1.4%, to 9,172.”
On Friday, the Trump administration declared a public health emergency and announced a temporary travel ban for “foreign nationals who have been to China in the last 14 days,” while Americans returning from China “would be subject to health screening and up to 14 days of quarantine.”
In a statement on Thursday, President Donald Trump claimed the United States has the coronavirus “all under control,” calling it a “very small problem in this country.”
“We are working very closely with China and other countries, and we think it’s going to have a very good ending for us, that I can assure you,” he proclaimed.
At least six cases of the coronavirus have been reported in the United States.
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