U.S. markets closed

US Indexes Close Lower Wednesday With Coronavirus Concerns

The Dow Jones Industrial Average closed at 25,445.94 on Wednesday with a loss of 710.16 points or -2.72%. The S&P 500 closed at 3,050.33 for a loss of 80.96 points or -2.59%. The Nasdaq Composite closed at 9,909.17 for a loss of 222.20 points or -2.19%. The VIX Volatility Index was higher at 33.75 for a gain of 2.38 points or 7.59%.

Wednesday's market movers

Stocks sold off Wednesday with rising concerns over coronavirus infections. The seven-day infection count average increased 30% across the U.S. Texas, Florida, Arizona and California are showing some substantial increases. Florida and California set daily infection count records. New York, New Jersey and Connecticut also requested a quarantine of inbound travelers from highly infected areas.

Tariff threats from the Trump administration added to uncertainty. President Trump is suggesting new tariffs on goods from Canada, France, Germany, Spain and the U.K.

Economic reports affecting market trading included the following:

  • The MBA Mortgage Applications Index decreased 8.7% following an increase of 8%. The MBA's average 30-year mortgage rate was unchanged at 3.3%.
  • The FHFA House Price Index increased 0.2% in April.
  • The EIA's Weekly Petroleum Status report showed crude oil inventory increasing by 3.4 million barrels to 1.194 billion.
  • The Treasury held auctions for 154-day bills at a rate of 0.165%, 105-day bills at a rate of 0.150%, five-year notes at a rate of 0.330% and two-year notes at a rate of 0.080%.
  • Demand for the 10-year Treasury note was higher in the secondary market with the price rising 2/32 to end at a yield of 0.695%.

In the S&P 500, energy and industrials led losses. In the S&P 100, the following stocks led losses and gains:

  • Halliburton (NYSE:HAL) -8.73%
  • Simon Property Group (NYSE:SPG) -8.24%
  • General Electric (NYSE:GE) -5.86%
  • Abbott Laboratories (NYSE:ABT) -4.20%
  • Disney (NYSE:DIS) -4.13%
  • Gilead (NASDAQ:GILD) 1.27%
  • Qualcomm (NASDAQ:QCOM) 0.50%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,389.75 for a loss of 49.59 points or -3.45%. The S&P 600 closed at 798.30 for a loss of 29.80 points or -3.60%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,704.65 for a loss of 314.08 points or -3.13%. The Dow Jones U.S. Small-Cap Value Index closed at 6,671.69 for a loss of 283.62 points or -4.08%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,731.48 for a loss of 60.99 points or -3.40%; the S&P 100 at 1,408.84 for a loss of 33.98 points or -2.36%; the Nasdaq 100 at 10,002.70 for a loss of 207.12 points or -2.03%; the Russell 3000 at 1,776.57 for a loss of 49.09 points or -2.69%; the Russell 1000 at 1,688.32 for a loss of 45.81 points or -2.64%; the Wilshire 5000 at 31,065.78 for a loss of 844.16 points or -2.65%; and the Dow Jones U.S. Select Dividend Index at 568.13 for a loss of 20.40 points or -3.47%.

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This article first appeared on GuruFocus.