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Wall Street's main indexes decline on coronavirus fears

Wall Street's main indexes tumbled almost two per cent on Thursday and confirmed a correction that began last week, as the rapid spread of the coronavirus outside China intensified fears about the hit to economic growth and corporate earnings.
 
At session lows, the S&P 500 and Nasdaq were down more than 10 per cent from their intraday record highs hit on February 19, while the Dow Jones Industrials was 10 per cent off its February 12 peak.
 
The indexes were set for their steepest weekly pullback since the global financial crisis, as new infections reported around the world surpassed those in mainland China. 
 
Governments battling the epidemics from Iran to Australia shut schools, canceled big events and stocked up on medical supplies.
 


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