New York (AFP)

The New York Stock Exchange ended clearly in the red on Monday, as investors expressed growing concern over the spread of the coronavirus and its possible consequences for global growth.

Its flagship index, the Dow Jones Industrial Average, lost 1.57% to finish at 28,535.80 points. The S&P 500, which represents the 500 largest companies on Wall Street, also lost 1.57% to 3,243.63 points.

This was the heaviest closing loss for the two indices since October.

The highly technological Nasdaq also declined by 1.89% to 9,139.31 points, recording its largest decline since August.

The new virus from China had already affected the New York place last week, but fears of a large-scale spread made Wall Street retreat more heavily on Monday.

At least 80 people have died in China after being infected with the new coronavirus, according to a latest report from local authorities who are taking drastic measures to curb the spread both inside and outside the country.

"The intensification of the phenomenon is causing more uncertainty," said Art Hogan of National.

"It seems logical to me, especially because the sectors which could be affected by a slowdown in the world economy are those which have suffered the most," continues the expert.

Airlines have indeed suffered notable losses on Wall Street: American Airlines fell 5.54%, Delta 3.37% and United Airlines 5.21%.

Travel agencies also suffered from the heightened climate of anxiety: Expedia dropped by 2.73%, Booking by 2.75% and the cruise specialist Carnival by 4.73%.

Other big names on the New York Stock Exchange, a large part of whose production is based in China, have also seen their shares lose ground, such as Apple (-2.94%) and Nike (-1.75% ).

As a sign of investor interest in assets deemed less risky, the 10-year rate on American debt, which had already dropped significantly last week, fell further, moving to 1.598% around 9:30 p.m. GMT against 1.684% at the close on Friday. .

However, Hogan said market players could quickly shift their focus to earnings season, as several big names on Wall Street, including Apple, Amazon, Microsoft and Boeing are due to report on their quarterly health news this week. .

The economic week will also be marked by the first monetary meeting of the year for the Federal Reserve, which must end on Wednesday and at the end of which the Fed should leave its rates unchanged.

© 2020 AFP