Stocks plunge as virus fears spook markets, hit tourism

 

U.S. equity futures tumbled ahead of the Monday trading session as China announced sharp increases in the number of people affected in an outbreak of a potentially deadly virus.

The major futures indexes are indicating a decline of at least 1.5 percent, with the Dow pointing to a drop of at least 400 points.

Oil is also under pressure with U.S. crude giving up 3 percent to $52.30 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, the international standard, declined 3.4 percent to $58.60 per barrel.

The U.S. has five confirmed cases of the new virus from China, all among people who traveled to the city at the center of the outbreak, health officials said Sunday.

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