Dow drops again on opening Friday, amid continued coronavirus market waves

Markets continued Friday to react negatively to coronavirus uncertainty as the Dow Jones Industrial Average fell more than 500 points at the start. 

On Thursday, the Dow went into correction territory, which is triggered by loss of between 10 and 20 percent from a peak. It was the first time this had happened since late 2018. The DJIA suffered its biggest single-day loss in the index’s history, dropping nearly 1,200 points.

The virus, originating in Wuhan China late last year, has spread globally sending markets into unknown territory.

China, which has quarantined entire cities over the spread of the virus is the world’s second-largest economy, after the United States.

Global markets have been riding a rollercoaster all week after the Dow plummeted 1,000 points on Monday, following coronavirus outbreaks in Italy and South Korea over the weekend. 

There are now about 83,000 confirmed cases of the illness worldwide, and the World Health Organization is reporting 2,804 deaths.