US market falls sharply, Dow Jones down by 740 points amid coronavirus crisis

Traders work during New York Stock Exchange (AFP Photo)

Wall Street stocks fell sharply in early trading Wednesday on weak jobs data and a downcast warning from President Donald Trump about the rising US death toll from the coronavirus.

About six minutes into trading, the Dow Jones Industrial Average stood at 21,174.95, down 3.4 percent or around 740 points.

The broad-based S&P 500 fell 4.0 percent to 2,496.85, while the tech-rich Nasdaq Composite Index tumbled 2.7 percent to 7,490.27.

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