US stocks open sharply lower, Dow Jones sheds 870 points

US stocks slumped on Friday, to deepen their sharp losses and head further toward the biggest weekly loss since the 2008 financial crisis.

Wall Street continued its slide on corrections on investors' growing concerns over the coronavirus impact on global economic growth.

The World Health Organization warned of the rapid spread of the coronavirus around the world, and urged all countries to prepare for countering the virus spread.

The US consumer spending reading for January fell today, while personal income rose by 0.6%, a nearly 1-year high.

As for stocks, Dow Jones lost 3.4% or 870 points to 24,893, Nasdaq plunged 3% or 260 points to 8,306, and S&P 500 lost 3.4% or 100 points to 2,878.