Updated at 5:05 p.m. ET
The coronavirus contagion has spread to Wall Street.
U.S. markets fell sharply Monday amid widening concern that the continuing spread of cases could lead to a global pandemic. The Dow Jones Industrial Average tumbled nearly 1032 points, or 3.56% All of the major market indexes were down more than 3%.
Stock markets in Europe and Asia were also down sharply.
"This is not a health pandemic yet, but it's rapidly becoming an economic pandemic," said Diane Swonk, chief economist at Grant Thornton.