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You can find the current article at its original source at https://www.theguardian.com/business/live/2020/feb/25/stock-market-sell-off-coronavirus-companies-croda-dow-ftse-business-live
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| FTSE 100 hits one-year closing low, as Wall Street slides again – as it happened | |
| (32 minutes later) | |
| European markets have suffered a second day of heavy losses as new coronavirus cases are reported | European markets have suffered a second day of heavy losses as new coronavirus cases are reported |
| Finally, here’s our news story on today stock market turmoil: | |
| And our main liveblog on the coronavirus crisis is here: | |
| Goodnight! GW | |
| Jennifer Ellison, principal at B|O|S in San Francisco, told MarketWatch that the markets are in “one of those spirals,” | |
| Tech stocks had a bad day, with Apple losing over 3%. | |
| Investors are very concerned that global supply chains are going to be badly hurt by Covid-19, if China’s manufacturing doesn’t return to normality soon. | |
| I think the Dow has just posted its fourth-biggest points drop ever. | |
| So, following the 1,000+ point slump yesterday, it’s clearly suffered its biggest two-day points decline ever. | |
| But.. in percentage terms (which are more important), this week’s slump is less serious. Still serious, though - nearly 7% in two days! | |
| Here’s a handy explanation of today’s market mayhem, from Kyle Rodda of IG: | Here’s a handy explanation of today’s market mayhem, from Kyle Rodda of IG: |
| Newsflash: Wall Street has suffered its second day of heavy losses. | Newsflash: Wall Street has suffered its second day of heavy losses. |
| The Dow has just closed, down 3.15%. That is a loss of 879 points, to 27,081, on top of the 1,000 shed in yesterday’s rout. | The Dow has just closed, down 3.15%. That is a loss of 879 points, to 27,081, on top of the 1,000 shed in yesterday’s rout. |
| Investors are clearly very worried about the latest jump in Covid-19 cases, including in Europe, and afraid there’s lots more to come. | Investors are clearly very worried about the latest jump in Covid-19 cases, including in Europe, and afraid there’s lots more to come. |
| Wall Street is staggering to the finishing line, after a torrid session. | Wall Street is staggering to the finishing line, after a torrid session. |
| With 10 minutes left, the Dow is 789 points down at 27,171 (-2.82%), having been over 900 points south a few minutes earlier.,... | With 10 minutes left, the Dow is 789 points down at 27,171 (-2.82%), having been over 900 points south a few minutes earlier.,... |
| The oil price has also fallen sharply today, hitting a two-week low. | The oil price has also fallen sharply today, hitting a two-week low. |
| Again, that reflects fears of a global slowdown. | Again, that reflects fears of a global slowdown. |
| Marketwatch has the details: | Marketwatch has the details: |
| Crumbs... with just ninety minutes to go, the Dow is flirting with its second quadruple-digit plunge in a row. | Crumbs... with just ninety minutes to go, the Dow is flirting with its second quadruple-digit plunge in a row. |
| It’s now down 900 points. | It’s now down 900 points. |
| The worst-performing sectors in New York today are mining companies, industrial companies, banks and energy firms. | The worst-performing sectors in New York today are mining companies, industrial companies, banks and energy firms. |
| They all suffer when investors worry that the global economy is stumbling, meaning less demand for iron ore, oil and manufactured foods -- and higher debt defaults. | They all suffer when investors worry that the global economy is stumbling, meaning less demand for iron ore, oil and manufactured foods -- and higher debt defaults. |
| .....Make that down 3%! | .....Make that down 3%! |
| The Dow is now down 821 points this session, as the selloff intensifies dramatically. | The Dow is now down 821 points this session, as the selloff intensifies dramatically. |
| The US stock market is down 2.5% since Donald Trump tweeted that it was “starting to look very good to me!” | The US stock market is down 2.5% since Donald Trump tweeted that it was “starting to look very good to me!” |
| A fresh wave of selling has knocked the Dow down by almost 700 points, or 2.5%, to 27,270. | A fresh wave of selling has knocked the Dow down by almost 700 points, or 2.5%, to 27,270. |
| That’s its lowest level of 2020, and on track for its lowest close since the start of November last year. | That’s its lowest level of 2020, and on track for its lowest close since the start of November last year. |