New York (AFP)

The New York Stock Exchange collapsed at the opening Monday, investors worried about a long-lasting global economic slowdown due to the resurgence of cases related to the coronavirus outside of China.

Around 2:55 p.m. GMT, the Dow Jones Industrial Average plummeted by 2.64% to 28,228.13 points. The star index for the New York market is now down from its level at the start of the year.

The highly technological Nasdaq fell 2.88% to 9,301.18 points. The S&P 500, which represents the 500 largest companies on Wall Street, abandoned it 2.48%, to 3,254.86 points.

As a sign of investor interest in assets deemed less risky, the 10-year rate on US Treasury bonds plummeted to 1.369%, against 1.471% at the close on Friday. A fall in rates on the bond market is synonymous with an increase in bond prices and therefore an increase in demand.

Some observers were concerned that the 10-year bond rate might drop below that of 2-year bonds, which also fell very sharply.

This phenomenon, known as the "inversion of the yield curve", is generally the leading indicator of a recession.

Also considered a safe haven, gold rose by almost 2% and posted the highest since 2013 at $ 1,675.74 an ounce.

Wall Street had finished clearly in the red Friday, affected by the lingering uncertainties surrounding the epidemic of viral pneumonia and disappointing indicators on the American economy: over the whole week, the Dow Jones had lost 1.4% and the Nasdaq 1.6%.

International organizations are concerned about the increase in the number of cases outside of China, especially in South Korea and Iran, but also in Italy, where 5 deaths and 165 cases of contamination have been recorded.

"The root of the problem is the emerging fear that the paralysis that has hit the Chinese economy will have consequences elsewhere, which would inflict another blow on global growth, rising corporate profits and prospects," said Patrick O. 'Hare, from Briefing.

Directly affected by the impact of the coronavirus, which threatens international flights, the major American airlines were barely struggling on Monday at the start of the session: Delta sank 6.3%, American Airlines 6.2% and United 4.7%.

Apple, which manufactures and sells a large part of its iPhones in China, saw its title lose 3.0%.

Asked about the CNBC financial news channel, the American billionaire Warren Buffet, however, did not express too much concern about the long-term impact of the coronavirus.

"I don't think it should affect what's going on in the equity market, but for humans, it's scary when there is a pandemic," said Buffett.

"We buy companies for 20 or 30 years. We buy them in whole or in part ... and we believe that the outlook for 20 or 30 years will not be changed by the coronavirus," also said the owner of the Berkshire holding company. Hathaway.

© 2020 AFP