Dow plunges over 800 points as coronavirus cases spike outside China

The Dow Jones Industrials fell more than 800 points within minutes of the market open on Monday as investors scurried to safer assets after a surge in coronavirus cases outside China stoked fears of a bigger impact to global growth.

The benchmark S&P 500 fell below its 50-day moving average, while the blue-chip Dow slipped below its 100-day moving average, all closely watched indicators of momentum.

The Dow Jones Industrial Average fell 589.48 points, or 2.03%, at the open to 28,402.93.

The S&P 500 opened lower by 80.14 points, or 2.40%, at 3,257.61. The Nasdaq Composite dropped 388.15 points, or 4.05%, to 9,188.44 at the opening bell.