The Dow and broader stock market closed in the red amid reports of the first case of the Wuhan coronavirus in the US. That news, along with a downgrade of Hong Kong's credit quality by ratings agency Moody's, weighed on global stocks overnight.
The Center for Disease Control and Prevention announced Tuesday that the first case of the illness in the United States showed up in Washington state. The patient is a male US resident, according to the CDC statement.The virus, which was first identified in Wuhan, China, has infected more than 300 people in China and other Asian countries. Six patients have died. Airline stocks tumbled amid worries surrounding the outbreak's impact on global air travel.
"From an investment standpoint, the risk with any virus is in the scope of its economic impact, and the mere fact that this has spread from China overnight to the US so quickly reinforces the idea that the negative fallout could be global rather than local," said Alec Young, managing director of global markets research at FTSE Russell, in emailed comments.Read MoreThe Dow finished 151 points, or 0.5%, lower off of its earlier lows.
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