Coronavirus economic updates: Markets slip slightly

Posted By: Staff
March 31, 2020 @ 9:52 am
ABC Business

narvikk/iStock

narvikk/iStock(NEW YORK) — The coronavirus pandemic has quickly evolved from a health crisis to a financial one, shuttering businesses, upending entire industries and sending financial markets reeling.

Here’s the latest news on how the COVID-19 crisis is affecting the economy:

Markets slip slightly

U.S. financial markets opened relatively flat Tuesday.

The Dow Jones Industrial Average was down just over 100 points, or approximately 0.5% Tuesday morning. The S&P 500 was down by 0.6% and the Nasdaq dipped by 0.3%.

The slight drop comes after markets have swung widely for weeks amid the ongoing COVID-19 crisis.

The U.S. has become the new epicenter of the outbreak, with more than 164,000 diagnosed cases of the novel coronavirus. At least 3,170 people have died from COVID-19 in the U.S.