Coronavirus Panic Hits Stocks Again: Market Down 10% from Record Highs

Stocks fell sharply again today, a day after the CDC admitted that the first ‘Community Spread’ Coronavirus Case was allowed in two separate hospitals for over a week before the CDC tested the patient.

The Dow Jones Industrial Average dropped 1,190.95 points, or 4.4%, to close at 25,766.64. The S&P 500 plummeted 4.4% to 2,978.76 and the Nasdaq Composite dropped 4.6% to 8,566.48. The Dow had its worst day since February 2018 while the Nasdaq and S&P 500 posted its biggest one-day loss since August 2011.

It was also the Dow’s biggest one-day point drop in history, surpassing Monday’s 1,031-point drop.

Experts warn Coronavirus could Explode in the U.S. Overnight Just Like in Italy

In Italy, officials are still struggling to find the original source of infection. Last Friday, Italy had only 4 cases, today they are at 655 confirmed cases. Experts are warning that with the unknown origins of the community spread infection in California, we could see a similar scenario start to play out here in the U.S.

As of 27 February 2020 at 5:27 p.m. ET., there have been 82,788 confirmed cases worldwide, including 2,814 fatalities.

What can you do to Prepare?

We are already seeing a run on products and serious supply chain problems throughout the world. So you need to start thinking about how long you can last on your current supplies.

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