Fox News medical correspondent Dr. Nicole Saphier argues that the Chinese health care system is in shambles as the coronavirus death toll rises.
Stocks were under pressure Monday as the number of people affected by the coronavirus surged over the weekend.
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All three of the major averages were down at least 1.8 percent in the opening minutes of trading, continuing the selloff that began on Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 3242.53 | -52.94 | -1.61% |
| I:DJI | DOW JONES AVERAGES | 28580.04 | -409.69 | -1.41% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9119.511512 | -195.40 | -2.10% |
By midnight Sunday, there were 2,744 confirmed cases of the virus and 80 deaths, according to China’s National Health Commission. There have been five confirmed cases in the U.S., health officials said.
Travel-related names remained under pressure as the number of coronavirus cases continued to climb.
Delta Air Lines, United Airlines, American Airlines and Southwest Airlines were all lower, as were cruise operators Royal Caribbean and Carnival Cruise Lines.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 56.02 | -2.79 | -4.75% |
| UAL | UNITED AIRLINES HLDG. | 77.00 | -4.90 | -5.98% |
| AAL | AMERICAN AIRLINES GROUP INC. | 25.63 | -2.01 | -7.27% |
| RCL | ROYAL CARIBBEAN CRUISES | 116.98 | -9.53 | -7.53% |
| CCL | CARNIVAL CORP. | 45.07 | -2.45 | -5.16% |
Casino giants Wynn Resorts and Las Vegas Sands, which have exposure to Macau’s Cotai Strip, were also weaker. An estimate from Deutsche Bank showed total visitation for Macau on Jan. 24 and Jan. 25 was down 50 percent from a year ago.
Starbucks shares fell after the coffee giant said it all of its locations in China’s Hubei province, where the outbreak occurred, will be closed through the week-long Lunar New Year. Last week, McDonald’s closed locations in the area and Disney announced its Shanghai and Hong Kong theme parks would be shuttered.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WYNN | WYNN RESORTS LIMITED | 123.33 | -11.42 | -8.48% |
| LVS | LAS VEGAS SANDS CORP | 61.55 | -6.30 | -9.29% |
| SBUX | STARBUCKS CORPORATION | 88.38 | -3.65 | -3.97% |
| MCD | MCDONALD’S CORP. | 208.61 | -2.63 | -1.25% |
| DIS | WALT DISNEY COMPANY | 136.22 | -3.86 | -2.76% |
Medical mask makers Lakeland Industries and Alpha Pro Technology continued to surge.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LAKE | LAKELAND INDS | 15.47 | +1.73 | +12.57% |
| APT | ALPHA PRO TECH | 7.62 | +1.62 | +27.00% |
Elsewhere, Boeing shares were under pressure after a Reuters report said a Boeing jet belonging to Ariana Afghan Airlines crashed in Afghanistan. Ariana CEO Mirwais Mizrakwal denied the report. Over the weekend, Boeing held the maiden flight for its 777X aircraft.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | BOEING COMPANY | 318.23 | -4.82 | -1.49% |
On the earnings front, homebuilder D.R. Horton reported top and bottom-line results that outpaced Wall Street estimates and raised the upper end of its full-year home sales forecast.
Wireless communications provider Sprint reported mixed results as its postpaid phone churn rate climbed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DHI | D.R. HORTON INC. | 59.38 | +0.87 | +1.49% |
| S | SPRINT CORP. | 4.76 | -0.07 | -1.35% |
Brent crude oil, the international benchmark, and West Texas Intermediate crude oil, the U.S. benchmark, were both trading lower by 3 percent near $52.55 and $58.85 a barrel, respectively.
Meanwhile, gold climbed 0.8 percent to $1,590 an ounce and was on track to close at its highest level in nearly seven years.
U.S. Treasurys rallied, pushing the yield on the 10-year note down 6.5 basis points to 1.615 percent.
Markets were lower across Europe with Britain’s FTSE, Germany’s DAX and France’s CAC all lower by about 2.2 percent.
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In Asia, Japan’s Nikkei shed 2 percent. China’s Shanghai Composite and Hong Kong’s Hang Seng were closed for holiday.
