US stocks tumble more than 3% as coronavirus spreads

The main US stock indices opened lower on Friday, weighed down by the increasing spread of the coronavirus in the US.

The effect of the US Senate ratification of the $2 trillion stimulus package has failed to the ease markets' fears about the pandemic.

The number of coronavirus infections in the US rose yesterday to more than 85,000 cases, surpassing the number of infections in China and Italy, and making the US the world's largest epicenter for the novel virus.

Meanwhile, President Donald Trump held a phone call with the Chinese leader, Xi Jinping, and discussed ways to cooperate in the fight against the virus.

As for stocks, Dow Jones lost 3.5% or 785 points to 21,792 as of 14:11 GMT, Nasdaq dropped 3% or 235 points to 7,559, and S&P 500 lost 3% or 80 points to 2,551.