World markets drop for fifth day amid fears of virus spread

World markets drop for fifth day amid fears of virus spread
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Global stocks dropped for the fifth straight day on Wednesday as fears of a worldwide outbreak of the coronavirus continue to grow.

U.S. Treasury yields remained near the record lows hit earlier in the week and the virus fears sent the MSCI all-country index to a nearly 2 1/2-month low, according to Reuters.

The Dow Jones Industrial Average has slid 7.72 percent over the last five days, according to The Wall Street Journal, while the S&P 500 has dropped 7.62 percent and the Nasdaq index has fallen 8.67 percent over the same period.


Shares dropped in Tokyo, where the outbreak has stoked fears that the Olympic Games could be canceled in July, according to Reuters.

U.S. futures for Wall Street were down 0.8 percent and 10- and 30-year U.S. Treasury yields were sitting just off record lows while German bonds also saw 10-year yields tumble to four-month lows, Reuters reported.

The continued slide has reportedly infuriated President TrumpDonald John TrumpFauci says his meetings with Trump have 'dramatically decreased' McEnany criticizes DC mayor for not imposing earlier curfew amid protests Stopping Israel's annexation is a US national security interest MORE, who is seeking reelection this year and is reportedly worried that health advisers' public warnings about a possible outbreak in the U.S. have only exacerbated fears among Americans, further harming the economy.

Trump has publicly blamed Democrats and the news media for stock market losses amid the outbreak, while Democrats have hammered the administration over cuts to the Centers for Disease Control and Prevention (CDC) funding.

"Low Ratings Fake News MSDNC (Comcast) & @CNN are doing everything possible to make the Caronavirus look as bad as possible, including panicking markets, if possible. Likewise their incompetent Do Nothing Democrat comrades are all talk, no action. USA in great shape!" Trump tweeted Wednesday morning.