Stocks fall as fears about deadly virus grow

U.S. stocks fell Friday over increased fears that a deadly virus could continue spreading globally.

A Chicago woman has become the second U.S. patient diagnosed with the new virus from China, health officials said. Health authorities worldwide have been taking measures to contain and monitor the coronavirus outbreak.

United Airlines fell 4.3% and American Airlines slipped 5.1%. Several other companies in the travel and tourism industries are also falling over increased fears about the virus’ spread. Cruise line operator Carnival fell 3.8%.

Health care companies broadly slipped. Surgical robot maker Intuitive Surgical shed 3.9%.

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NEW YORK, NY – JUNE 7: Traders work on the floor of the New York Stock Exchange (NYSE) at the closing bell, June 7, 2019 in New York City. (Photo: Drew Angerer, Getty Images)

The Dow Jones industrial average slumped 220 points. The Standard & Poor’s 500 fell 1.1%. The Nasdaq fell 1.1%. 

Financial stocks also fared poorly. Discover Financial plunged 9.3%.

Oil prices slid and dragged down energy stocks. Concho Resources fell 2.8%.

Safe-play stocks, including utilities and real estate companies, held up well. Bond yields fell to 1.69% from 1.74% late Thursday.

A blowout earnings report from chipmaker Intel propelled technology shares higher. That sector got an additional push from Broadcom, which landed a deal to supply wireless components to Apple.

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