{"id":143142,"date":"2020-01-27T21:53:21","date_gmt":"2020-01-27T21:53:21","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=143142"},"modified":"2020-01-28T02:32:52","modified_gmt":"2020-01-28T02:32:52","slug":"global-stocks-sell-off-on-coronavirus-fears","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/global-stocks-sell-off-on-coronavirus-fears\/","title":{"rendered":"Global stocks sell-off on coronavirus fears"},"content":{"rendered":"<p>As more cases of the coronavirus develop in China and beyond, markets around the world sold off on Monday. Falling 1.12%, the Dow erased 2020 gains to date while the S&amp;P suffered its biggest one-day loss since October. Almost every sector, especially tech and energy, dropped. The Nasdaq plunged 1.89% with <a href=\"https:\/\/stockchase.com\/AMZN-Q\">Amazon<\/a> losing 1.79%, for instance, while a barrel of crude lost 2.62%.<\/p>\n<p>Also, stocks with wide exposure (and deep revenues) in China took a hit. <a href=\"https:\/\/stockchase.com\/MFC-T\">Manulife<\/a> has been rallying lately because of its growing insurance business in China, but sold off 2.58% Monday. However, the TSX declined only 0.7%, making it one of the most robust indices compared to Japan, Germany and France whose markets dropped around 2.7%.<\/p>\n<p>However, utilities saw a lift with <a href=\"https:\/\/stockchase.com\/NPI-T\">Northland Power<\/a> gaining nearly 1% and making a record high just shy of $30. Gold increased again, but the biggest gainers by far were biotechs, such as Inovio Pharmaceuticals (INO on the Nasdaq) which rocketed 26% on Monday and rose another 3% minutes after the closing bell in after-hours trading. Inovio is one of the little-known pharmas that the <span style=\"color: #000080;\"><span lang=\"zxx\"><u><a href=\"https:\/\/www.bloomberg.com\/press-releases\/2020-01-23\/inovio-selected-by-cepi-to-develop-vaccine-against-new-coronavirus\" target=\"_blank\" rel=\"noopener\">Coalition for Epidemic Preparedness Innovations<\/a><\/u><\/span><\/span> has awarded US$9 million to develop a coronavirus <span style=\"color: #000080;\"><span lang=\"zxx\"><u><a href=\"https:\/\/www.fiercepharma.com\/vaccines\/inovio-moderna-score-cepi-funding-for-vaccine-work-against-deadly-coronavirus\" target=\"_blank\" rel=\"noopener\">vaccine<\/a><\/u><\/span><\/span>. (Look for more about Inovio and other stocks in our weekly report.)<\/p>\n<p>&#x1f6cd; <a href=\"https:\/\/stockchase.com\/AMZN-Q\">Amazon.com<\/a> -1.79%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/MFC-T\">Manulife Financial<\/a> -2.58%<br \/>\n&#x1f332; <a href=\"https:\/\/stockchase.com\/NPI-T\">Northland Power Inc<\/a> +1%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As more cases of the coronavirus develop in China and beyond, markets around the world sold off on Monday. Falling 1.12%, the Dow erased 2020 gains to date while the S&amp;P suffered its biggest one-day loss since October. Almost every [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-143142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/143142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=143142"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/143142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=143142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=143142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=143142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}