Once again, China released a large number of new confirmed cases of the coronavirus, with nearly 800 more cases overnight. This then resulted in a major drop in stocks, with fear over the global economic slowdown bound to happen. It kinds of seems like this is a recurring theme.
Earlier this week the market was up, as the number of confirmed cases had its lowest growth since January. This lifted investor sentiment and we saw S&P 500 and Nasdaq hit record highs. There was also talk of China taking action to lessen the effect of the coronavirus on their airline industry.