Tuesday 3 March 2020

Stock Markets after worst week since 2008, Keep Your Eyes On It

ABC News' chief business correspondent Rebecca Jarvis reports on the latest from Wall Street after the Dow dropped more than 12% in just one week.

Dow futures rose more than 100 points late Sunday, erasing earlier losses. This is a sign that more wild swings in markets are likely this week. There are reports the coronavirus COVID-19 is spreading in the USA and globally.

Last week, the Dow Jones industrial average tumbled more than 3,500 points, or 12%. This is its worst week since the 2008 financial crisis.

The number of coronavirus COVID-19 cases surged in Italy and continued to climb in countries such as Iran, Iraq and South Korea. There have been more than 88,000 coronavirus cases worldwide, mostly in China, and almost 3,000 deaths.

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