Dow falls 600 points on fresh fears of second virus wave

NEW YORK — U.S. stocks tumbled at the opening bell Monday after spikes in coronavirus infections were reported in parts of the country, as well as in China, where the outbreak had been said to be under control.

The Dow Jones Industrial Average slumped around 600 points, or about 2%. The broader S&P 500 index also fell around 2%.

The U.S. market drop followed a sell-off in Asia. Japan’s Nikkei Stock Average sank for a third straight trading day, falling 3.5% to close at 21,531, its first drop below 24,000 since May 29. Hong Kong’s Hang Seng Index slid about 2.2% to a two-week low of 23,777, marking a fourth consecutive session of losses.

The weekend brought reports of the outbreak gaining steam in some of the most populous U.S. states, including California and Texas. Florida recorded its highest number of new daily cases yet over the weekend, with more than 2,000 infections on both Saturday and Sunday.

China on Saturday shut down a wholesale food market in Beijing associated with an infection cluster. The capital, which reported its first locally transmitted case in more than two months on Friday, has confirmed 79 new cases since then.

Tokyo announced 48 new coronavirus infections on Monday, after reporting 47 on Sunday. Nearly half of Monday’s cases appear to be associated with the capital’s nightlife.

Another 13 are believed to have been infected through gatherings such as dining out with friends, stoking concern about the dangers of reopening too early.

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