Wall Street’s Dow Jones Industrial Average plunged 600 points on Friday amid global coronavirus fears as the death toll jumped to 213 cases in China and nearly 10,000 infections in 18 countries.
The S&P 500 was down 58 points (-1.77%) as stocks tumbled at the close of trading on Friday. Panicked investors dumped shares as the virus outbreak threatened China’s economy. China is the world’s 2nd largest economy.
Currently there are 6 confirmed coronavirus cases and 168 cases under investigation in the United States. “We are facing an unprecedented health threat,” said the Centers for Disease Control and Prevention (CDC) in Atlanta.
The new coronavirus is a SARS-type virus that causes inflammation and swelling in the tiny air sacs in the lungs, which makes it difficult to breathe. The cause of death is multiple internal organ failure.
The White House issued a federal mandatory quarantine of 14 days for 195 American evacuees from China. They are currently being held under quarantine at a military base in California after arriving on a chartered plane from Wuhan this week.
The White House also declared the coronavirus outbreak as public health emergency in the US.
President Trump issued an executive order that will block all foreign nationals from entering the US, except for the immediate family of US citizens or permanent residents. The travel ban will begin at 5 p.m. ET on Sunday.
All flights returning to the US from anywhere in China will be routed through seven airports, including JFK in NY, Chicago O’Hare International Airport, Atlanta’s Hartsfield-Jackson International Airport and Los Angeles International Airport (LAX).
