Dow Jones falls 2% as US stocks sell-off deepens on coronavirus fears

A sell-off on Wall Street accelerated Tuesday afternoon as the Dow slumped more than two percent on mounting worries over the coronavirus.

Near 1845 GMT, the Dow Jones Industrial Average stood at 27,390.27, down 2.0 per cent or about 570 points.

The broad-based S&P 500 shed 1.9 per cent to 3,165.03, while the tech-rich Nasdaq Composite Index dropped 1.7 per cent to 9,067.84.

Tuesday's declines add to the toll after major indices slumped more than three percent Monday in a rout precipitated by the spread of the virus beyond China. The declines came as US companies cited potential coronavirus impacts, including less spending from tourists and supply chain problems.

"Bit by bit, US investors are seeing the prospects for global growth diminish," said Gregori Volokhine of Meeschaert Financial Services.

"With the news of the last three or four days, it's hard to be optimistic." Mastercard slumped 5.3 per cent as it forecast that first-quarter sales growth would be two to three ...