Dow has worst day in 2 years amid coronavirus fears

Companies like Nike and Apple are feeling the manufacturing squeeze, and the airline industry is expected to lose nearly $28 billion this year.
1:45 | 02/25/20

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Transcript for Dow has worst day in 2 years amid coronavirus fears
now to those raising fears of a global economic slowdown and what we saw on Wall Street already today. Here's ABC's Rebecca Jarvis tonight. Reporter: Tonight, fears over the spread of the coronavirus sending the Dow plunging more than 1,000 points. Its worst day in two years. Stocks now negative for 2020. China, which produces about 25% of all the world's manufactured goods, an important hub for most major U.S. Companies. With many Chinese factories now shuttered, American businesses feeling the squeeze. Including tech companies, like apple, which assembles its iPhones in China. Warning earlier this month of a temporary iPhone shortage. And sales slowing there. And retailers like Nike, when produces about 25% of its shoes and apparel in China. Also hard-hit, airlines, like delta, united and American. The industry forecast to lose nearly $28 billion this year as consumers cut back on travel. The virus now spreading into at least 32 countries worldwide. Creating anxiety over the growing impact it could have on the global economy. Until we get some clarity, we're going to continue to see this uncertainty and this volatility in our markets. Could be a rough few weeks ahead. Rebecca Jarvis live on wall Street tonight.rebecca, the fear on wall Street to main street. And you've heard from small business owners throughout the country? Reporter: That's right, David. I've heard from a dozen American small business owners who manufacture their products in China and then sell them here. And they're worried, because those factories in China have been shut for weeks, with no signs of reopening. And they say that could ultimately cost U.S. Jobs, if this continues to last. All right, Rebecca Jarvis live in lower Manhattan tonight. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

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