Wall Street Lower on Fears of Coronavirus and an economic blow

Shafaq News / The main stock indices fell on Wall Street at the open Tuesday, as fears grew of a new blow to the country’s economy in light of concern about another round of lockdown measures due to the Coronavirus and the ability of Congress to agree on more fiscal stimulus.

The Dow Jones Industrial Average reached a low of nearly two months after the opening, dropping 172.71 points, the S&P500 index opened down 33.90 points and the Nasdaq composite index fell 183.14 points.

Last week, the three major indices fell, for the third consecutive week which is the longest weekly decline in the market since 2019.

Investors are awaiting the speech of Reserve Board members, among them, Jerome Powell, U.S. Federal Reserve Chairman Jerome Powell who will appear before congressional committees this week.