US stocks close lower, but pare some losses

The major US stock indices plunged on Monday, due to growing concerns over the coronavirus crisis, but Wall Street managed to pare some losses later in the session.

The number of coronavirus infections rose to more than 31 million cases around the world, with a death toll of nearly million victims.

It's noteworthy that the US Federal Reserve announced last Wednesday keeping the interest unchanged between zero and 0.25%.

Fed Chair Jerome Powell pledged taking all the necessary tools and measures until the economy recovers and returns to its growth path.

To the oil market, WTI October futures at Nymex fell 4.4% or $1.8, to close at $39.31 a barrel, after hitting a high of $41.2 and a low of $38.6.

Brent November futures dropped 4% or $1.71 to $41.44 a barrel, with a high of $43.3 and a low of $40.9.         

As for stocks, Dow Jones lost 1.8% or 509 points to close at 27,147, after it hit a day high 27,484 and a low 26,715.

Nasdaq fell 0.1% or 14 points to 10,779 points, with a high of 10,782 and a low of 10,519.

S&P 500 dropped 1.1% or 38 points to 3,281, with a high of 3,285 and a low of 3,229.