Stocks Tanked at Open on Coronavirus Fears

U.S. stocks opened sharply lower on Monday, as fears over the deadly coronavirus flared further. The Dow Jones Industrial Average lately declined 432.15 points, or 1.49%, to 28,557.58. The S&P 500 fell 48.67 points, or 1.48%, to 3,246.80. The Nasdaq Composite dropped 179.00 points, or 1.92%, to 9,135.91.

Oil prices headed sharply lower Monday morning as the death toll and number of those infected rose with China’s deadly influenza spread over the weekend. West Texas Intermediate crude for March delivery slid $1.65, or 3%, to $52.55 a barrel. March Brent crude dropped $1.76, or 2.9%, to $58.17 a barrel.