Wall Street closed deeply in the red on Red Monday, as the coronavirus scared investors amid fears that all this would negatively affect the Chinese economy and slow down the global economy.
The S&P 500 lost 1.58%, while the Nasdaq Composite fell by 1.89% and the Dow Jones industrial index - by 1.58% or more than 450 points.
A sea of red spilt over the entire market, against this background, oil shares and securities of tourism companies decreased significantly.
Air companies, such as American Airlines and United Airlines, fell by more than 5%, while Royal Caribbean Cruises are down by more than 7%.
At the same time, the US authorities downplayed the risk of infection, the Centers for Disease Control and Prevention argued on Monday that the health risk of coronavirus in the US is now considered low.
Considering that 48 cities in China have reportedly been blocked, concerns about declining demand for aviation fuel have led to lower oil prices, keeping oil stocks in red.
The sale of casino shares in Macau, the Chinese capital of gambling, continued, with Wynn Resorts and Las Vegas Sands falling by 8% and 7%, respectively.
The number of Macau visitors from mainland China on Sunday fell by 80% compared with last year, according to Bloomberg.
Shares of chipmakers, meanwhile, were ahead of tech stocks in the fall, which are awaiting the release of reports from industry leaders such as Microsoft and Facebook, which will happen later this week.
Micron Technology, Intel and Qualcomm end the day with a sharp drop.