After The Bell: Stocks Plunge Again Because Of Coronavirus Fears

Andy Giersher
March 05, 2020 - 5:58 pm
Seattle Coronavirus

(Photo by Karen Ducey/Getty Images)

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Stocks took a deep dive on Thursday, giving back nearly all the big gains from the previous session, as investors try to assess the long-term economic impact of the fast-spreading coronavirus.

The S&P 500 lost 106, the NASDAQ gave back nearly 280 and the Dow Jones industrial average closed down 969 points, settling to 26,121.

"All of the days this week have been extremely volatile, we're actually still up on the week by about 2%, even after today's move and the decline of 1,000 points the day before yesterday. It's still very much coronavirus-centered," says Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. 

He adds that stocks in both the banking and healthcare sectors appear to be attractive for the long-term at current levels.