Stocks Opened Sharply Lower on Rising Pandemic Worries

U.S. stocks opened sharply lower on Thursday, as the coronavirus crisis took on a life of its own amid soaring infection rates outside of China. The Dow Jones Industrial Average lately fell 440.75 points, or 1.63%, to 26,516.84. The S&P 500 dropped 56.25 points, or 1.80%, to 3,060.14. The Nasdaq Composite declined 193.01 points, 2.15%, to 8,787.76.

Oil futures threatened to extend a losing streak to five sessions Thursday as worries about the rapid spread of COVID-19 outside of China continued to drive markets. West Texas Intermediate crude for April delivery fell $1.47, or 3%, to $47.28 a barrel. May Brent crude dropped $1.42, or 2.7%, to $51.39 a barrel.