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Stock market plunges on coronavirus fears, Apple hit the most

SPX News by Newsroom on 18:45 February 24, 2020 EST

The major stock averages hit their session lows in early afternoon on Monday trading as coronavirus fears continue to dent investor sentiment.

The Dow was lowered by about 1,050 points, or 3.6%. The S&P 500 also traded in sync 3.6% lower while the Nasdaq lost a massive 4% since the opening bell.

All the up til now allmighty bluechips are getting slack while stocks like Chevron and Exxon were among the names hitting new 52 wks lows. Apple is off by 4% and Facebook and Microsoft are piercing medium term supports.

Meanwhile Goldman slashes US first-quarter GDP forecast to 1.2% due to virus fears.