US equity markets tumbled into correction territory as coronavirus fears continued to escalate - Dow racked up its second four digit points decline this week, dropping -1,192-points or -4.42% (to 25,766.64) and losing its grip on the 26,000 level as the selling accelerated into the close. Apple Inc (down -6.54%), Intel Corp (-6.4%) and Exxon Mobil Corp (-6.02%) were among the worst-performing Dow constituents, dropping at least 6% each. The broader S&P500 -4.42% (to 2,978.76), closing below 3,000 for the first time since October last year and settling well below its 200-day moving average (3,046.91). Trading volumes for the S&P500 were ~US$87B, the fourth highest daily turnover on record and the four times the daily average (and the third day on the spin that turnover exceeded >US$60B). The NASDAQ fell -4.63% to settle -12.7% below its record closing high of 9,817.18 set on 19 February. AMD and Nvidia fell 7.3% and 5.6% respectively. Bed Bath & Beyond Inc rose ~2.6% in the extended session (after falling -3% in the regular session) after the housewares retailer said it would restructure and lay off 500 workers.
