Dow closes lower for 5th straight session, drops more than 450 points

The main US stocks indices slumped on Monday, amid the escalating global worries about the outbreak of the Coronavirus in China and other countries.

China revealed that the deadly Coronavirus has claimed more than 80 victims and about 3000 infected cases, with more to expected.

A representative from the World Health Organization will visit China in soon to determine the situation, amid widespread expectations that the organization will declare the Coronavirus as a global emergency.

Analysts fear the global economy will be sharply impacted, similar to what happened back in 2002/03 in the SARS virus outbreak, with losses that reached $40 billion.

To the oil market, West Texas Intermediate (WTI) fell by 1.9% to close at $53.14 a barrel, after hitting a day high of $53.7 and a low of $52.1.

Brent lost 2.3% to $59.32 a barrel, and hit a high of $60.4 and a low of $58.5.

As for stocks, Dow Jones dropped 1.6% or 454 points to close at 28,536, and hit an intraday high 28,671 and a low 28,440.

Nasdaq lost 1.9% or 175 points to 9,139 points, with a high of 9,185 and a low of 9,088 points.

S&P 500 shed 1.6% or 52 points to close at 3,243 with a high of 3,258 and a low of 3,234.