After setting record highs in February, Standard & Poor's 500 index, Dow Jones and Nasdaq have dropped 19 percent, driven by several factors including the coronavirus outbreak, according to the LA Times.
Five things to know:
1. The Standard & Poor's 500 index dropped 7 percent in just a few minutes after opening on March 9 and experienced a 15-minute trading delay as a result, according to the LA Times. Stocks continued to slump after trading resumed and the S&P 500 index ended the day down 7.6 percent. Today was the worst day for the S&P since 2008, according to the report.
2. By the end of the day, the Dow Jones industrial was down 7.8 percent. It dropped 2,000 points for the biggest single day drop in history, the LA Times reports.
3. The Nasdaq ended the day down 7.3 percent.
4. Bloomberg reported that Chinese healthcare stocks are outperforming U.S. counterparts despite the current threat of the coronavirus outbreak. MSCI China Health Index and CSI Health Care Index returned to exceed 5 percent since coronavirus concerns broke in January while over the same time period the Nasdaq Biotechnology Index and Health Care Select SPDR Fund in the U.S. dropped in excess of 3 percent.
5. As of March 9, there were 600 confirmed and presumptive cases of coronavirus in the U.S. and 26 total deaths. There are 35 states reporting cases, according to The New York Times. There are 109,578 confirmed cases globally and 3,809 deaths, as of March 9, according to the World Health Organization.