The benchmark S&P 500 slipped on Tuesday as worries about the fallout from a dea...
- The benchmark S&P 500 slipped on Tuesday as worries about the fallout from a deadly virus outbreak in China and a gloomy growth outlook from the IMF prompted investors to lock in recent gains.
Traders work on the floor at the New York Stock Exchange in New York, U.S., January 21, 2020. REUTERS/Brendan McDermid The developments soured mood among U.S. investors who drove the main indexes to record highs last week, encouraged by strong data, the signing of the Phase 1 U.S.-China trade deal and an upbeat start to fourth-quarter earnings season.
Chinese officials on Tuesday confirmed the new coronavirus outbreak took six lives and that it could spread between humans, stoking fears of a global pandemic and reviving memories of Severe Acute Respiratory Syndrome — another coronavirus outbreak that killed nearly 800 people in 2002-03. With the virus spreading just ahead of the Chinese New Year holidays, the S&P 1500 airlines index .SPCOMAIR fell 2.4%.
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