Stocks Fall on Spike in New Coronavirus Cases

By Justin Pei

Rochester — Stocks were lower Thursday as coronavirus cases in China spiked after the country revised the methodology for counting infections.

China reported 242 deaths and 14,480 new cases in the Hubei province on Wednesday.This halted the advance that had previously lifted U.S. and European stocks to record heights. Dow Jones was down 0.5% or 148 points.  The decline in shares was led by Cisco, which had a 5.5% drop in shares after the company reported another drop in quarterly revenue.

Assemblymember Ed Chao hold press conference on coronavirus out breaking . By Jennifer Liu

The S&P 500 lost 0.55% or 18.49 points and the Nasdaq Composite dropped 0.58% or 55.11 points. 

The European Stock market was down from record highs at the start of trading Thursday as the Stoxx 600 declined 1% despite the Euro holding a 2017 low of 1.0880 against the U.S. dollar. In Japan, the Nikkei 225 was down 0.14% or 33.48 points.