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Dow set to drop 300 points on report of first US coronavirus case of unknown origin

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February 27, 2020

U.S. stock futures on Thursday morning pointed to declines at the day’s open even after President Donald Trump tried to assuage concerns over the coronavirus outbreak.

Futures slipped after the CDC confirmed the first U.S. coronavirus case of unknown origin in Northern California, indicating possible “community spread” of the disease. The CDC doesn’t know exactly how the patient, a California resident, contracted the virus.

Around 6 a.m. ET, Dow futures indicated a drop of 300 points at Thursday’s open. S&P 500 futures and Nasdaq 100 futures also pointed to opening declines on Thursday.

Trump said in a news conference the risk of coronavirus to people in the U.S. is still “very low.” He added the U.S. is going to “spend whatever’s appropriate” to deal with the virus. Trump also put Vice President Mike Pence in charge of the U.S. response to the coronavirus.

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This article was posted: Thursday, February 27, 2020 at 6:55 am

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