New York Stock Market Dow Average Drops More Than $ 600 New Pneumonia Concerns Feb. 1, 07:34
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The Dow Jones stock market fell more than $ 600 more than the previous day, the biggest drop in New York stock markets on Tuesday, with the view that the new coronavirus would have a major impact on the global economy. In addition, the appreciation of the yen and the depreciation of the US dollar advanced in the foreign exchange market due to efforts to avoid risks.
The New York Stock Exchange Dow Jones average closing price was $ 283.41, down $ 603.41 compared to the previous day, dropping the most in the month.
Following the U.S. Department of State's decision to "stop travel" across China due to the spread of the new coronavirus, U.S. airlines announced the suspension of Chinese flights one after another. Opinions about the blow increased, and sales orders expanded.
In addition, crude oil prices continued to decline from the perspective that demand for crude oil would decrease due to the economic slowdown, and energy-related stocks and other items fell sharply.
On the other hand, in the foreign exchange market, dollar selling and yen buying to avoid risks became stronger, and the yen appreciated against the dollar to ¥ 108.30 a yen and the yen weakened.
Market officials say, "New coronaviruses continue to spread, and there is a growing view that the movement of people and things will be restricted due to air suspension and other factors, affecting the global economy as a whole." I am.