Stocks are closing lower on Wall Street as jitters about the economic fallout from the viral outbreak in China returned to the market.
FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20.
Market watchers said they didn’t see one clear trigger for the movements, which reminded them of the market’s sudden shifts during the height of the U.S.-China trade war, when stocks would swing sharply following tweets from President Donald Trump. “Until we get a more definitive sign that the top is in, you’re going to have volatility back and forth and trades off coronavirus headlines,” Schutte said.
The world’s largest shipping company, Denmark’s A.P. Moller Maersk, said Thursday it expects a weak start to the year due to the virus. Air France, meanwhile, said that COVID-19 could mean a hit of up to 200 million euros, or $220 million, for its operating results from February to April.
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