Coronavirus worries send Dow tumbling

Coronavirus worries send Dow tumbling

Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City.Johannes Eisele | AFP | Getty ImagesDow Jones Industrial Average falls 361 pointsThe Dow dropped 361.19 points, or 1.39%, to 25,706.09. The S&P 500 slid 0.56% to 3,152.05. The Nasdaq Composite rose 0.53% to close at 10,547.75. Record hospitalizations in FloridaStocks hit their lows of the day after Florida reported a record in coronavirus-related hospitalizations. The state also reported a record spike in Covid deaths. “There’s less reason for optimism now than there was in April,” said one economist. “We’re still looking at a vaccine some time early next year, but it’s become clear that it’ll be very difficult to open without causing a renewed surge” in coronavirus cases.Walgreens tumbles, tech gainsWalgreens led the Dow lower, dropping 7.76% on the back of disappointing earnings. Tech shares such as Microsoft and Amazon rose 0.70% and 3.29%, respectively, each to offset some of those losses.What happens next?The U.S. producers purchasing index is set for release Friday.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.


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