(WSYR-TV) — Stocks sold off again on Tuesday due to coronavirus concerns.
The Dow Jones dropped 879.44 points, NASDAQ dropped 255.67 points and S&P 500 dropped 97.68 points.
Rick Reagan with The Reagan Companies talked with NewsChannel 9 on Tuesday about coronavirus and why it is affecting stocks.
Here is a list of the reasons why:
- Slows business and manufacturing in affected areas
- China, Italy, South Korea and Japan are major economies
- Can affect supply chains in less-affected countries
This is what has happened with stocks during previous outbreaks:
- Stocks usually drop six to 13 percent
- The drops happen quickly
- Recovery is V shaped, which means that when stocks drop sharply, they can usually get the money back quickly
More from NewsChannel 9:
- Homeland Security investigating scams related to new COVID-19 vaccines
- FDA authorizes first at-home COVID-19 and flu combination test
- 1 hurt after tractor-trailer rollover
- WATCH: While CNY misses a Nor’Easter it does cool down this weekend
- Cartels flood border with synthetic drugs, exacerbating addiction and homicide rates
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