Dow Falls Nearly 1,200 Points Amid Coronavirus Fears

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Dow Falls Nearly 1,200 Points Amid Coronavirus Fears
The S&P 500 and the Nasdaq Composite also closed down by more than 4%.
SHOW TRANSCRIPT

The last week of February isn't looking too good for the stock market. U.S. stocks dropped again Thursday amid fears over the coronavirus. 

The Dow Jones Industrial Average dropped nearly 1,200 points, or 4.4%. The index has fallen more than 10% from its recent record high, putting it in correction territory. The S&P 500 and the Nasdaq Composite also closed down by more than 4% Thursday. Both are also in correction, and if this keeps up, all three could be on track to see their worst weeks since the financial crisis in 2008.

And this has been happening to stock markets around the world, including in South Korea and Italy.

The CDC says there will likely be an increase in coronavirus cases in the U.S. and is telling Americans to prepare now. More than 82,000 people have been infected worldwide, most of them in China, where the outbreak started. 

During a press briefing on Wednesday, the Trump administration said the risk to the American public remains low. That same day, the CDC confirmed a 15th case of COVID-19 in the U.S. 

Contains footage from CNN