Stocks Opened Sharply Lower on Coronavirus Anxieties

U.S. stocks opened sharply lower on Thursday, as a still-escalating coronavirus outbreak continued to fuel investor concerns.The Dow Jones Industrial Average lately retreated 660.65 points, or 2.44%, to 26,430.21. The S&P 500 was down 72.66 points, or2.32%, to 3,057.46. The Nasdaq Composite fell 185.81 points, or 2.06%, to 8,832.28.

Oil futures turned lower Thursday as traders awaited Russia’s decision on whether to back a plan that would see the Organization of the Petroleum Exporting Countries and its allies cut output by 1.5 million barrels a day in response to the potential hit to demand the global spread of COVID-19. West Texas Intermediate crude for April delivery were off 12 cents, or 0.3%, at $46.65 a barrel, while May Brent crude shed 32 cents, or 0.6%, to trade at $50.81 a barrel.