U.S. stocks fell on Thursday, led by declines in
technology heavyweights such as Microsoft, Apple and Amazon, after a central
Beijing hospital reported 36 new cases, raised worries about a potential
increase in infections in the Chinese capital and intensified fears over its
spread and impact on the global economy.
On Wednesday, S&P 500 and Nasdaq Composite rose to
record closing highs on hopes that China would take more measures to prop up
its economy, easing concerns about the economic impact of the coronavirus
Last night, the world’s most valuable technology firm, Apple,
issued a sales warning that would fall short of its recently announced
quarterly sales target because of slower iPhone production and weaker demand in
China due to the recent coronavirus outbreak.