DOW PLUMMETS: Market Craters 1,000+ Points on Coronavirus Fears

Anthony Kwan/Getty Images

The Dow fell more than a thousand points, Monday, amid growing coronavirus fears.

Shortly after 1 p.m. ET, the Dow dipped under 28,000, reaching a low of 27,942, after opening at 28,992.41.

Growing coronavirus cases in Italy and South Korea have been cited as reasons for the Dow freefall.

“The number of confirmed coronavirus cases outside of China continued to multiply over the weekend, sending shivers across financial markets as investors were forced to reassess their view that the impact of the outbreak will likely be short-lived,” XM senior investment analyst Raffi Boyadjian told Marketwatch on the plunge.

Seven people with the coronavirus have reportedly died in Italy– which has documented over 200 cases. The Venice Carnival was shut down early as Italian officials created quarantines in Northern Italy.

On Monday, during a Fox News segment on the Dow dropping due to the coronavirus, Fox Business host Charles Payne also blamed 2020 Democratic presidential candidate Sen. Bernie Sanders (I-VT) for the drop.

“The Bernie factor is finally rearing its head in the stock market,” Payne declared, noting, “Molina Health, one of the biggest health insurance in this country, is down eight percent. United Health is down over six percent. Anthem is down five percent. Hospital stocks are getting hit.”

Payne added that there’s “absolutely no doubt” Sanders’ successful campaign is impacting the stock market.