(CNBC) -- Stocks fell sharply on Wednesday as dismal economic data and weak bank earnings fueled concerns over the coronavirus’s impact on the U.S. economy.
The Dow Jones Industrial Average dropped 437 points, or 1.8%. The S&P 500 slid 2.1% while the Nasdaq Composite traded 1.2% lower.
Bank of America traded more than 5% lower on the back of disappointing earnings. Citigroup fell more than 4%. Energy and financials were the worst-performing sectors in the S&P 500, dropping more than 3% each.
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