(CNBC) -- Stocks tanked on Monday after more cases of the coronavirus were confirmed over the weekend, ratcheting up worries over the virus’ impact on the world economy.
The Dow Jones Industrial Average fell 453.93 points, or 1.6% to 28,535.80, wiping out the average’s gains for the year. The 30-stock average also notched its biggest one-day fall since October along with its longest losing streak since August. The S&P 500 dropped 1.6% to 3,243.63, snapping a 74-session streak without a 1% decline. The Nasdaq Composite had its worst day since August, dropping 1.9% to 9,139.31.
There are 2,862 confirmed cases so far in China and the death toll in China has risen to 81. The World Health Organization’s director general is traveling to China to meet with government and health officials. In the U.S., a fifth case of coronavirus was confirmed over the weekend.
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