A traveller wearing a mask, sits at Vancouver International Airport (YVR) as Canada’s Public Health Agency added a screening question for visitors and began displaying messages in several airports urging travellers to report flu-like symptoms in efforts to prevent any introduction of coronavirus, in Richmond, British Columbia, Canada January 24, 2020.

Jennifer Gauthier | Reuters

This is a live blog. Check back for updates.

10:23 am: Health insurers slump as Bernie Sanders sees Iowa support top Biden’s

Top health insurers traded lower as new polls released over the weekend showed Sen. Bernie Sanders, I-Vt., surpassing former Vice President Joe Biden in key early states as both vie for Democrats’ support in the 2020 primary. Stocks including Anthem, UnitedHealth, Cigna and Humana all traded down at least 2%. Sanders, a lifelong democratic socialist and avowed opponent of private-sector health care, has been his support among Iowa voters rise in recent days ahead of the state’s critical caucus next week. His support swelled by six points since October and he’s now garnering 25% of the Iowa vote, according to a New York Times/Siena College poll. —Franck

10:03 am: American Express slides as analyst sees strong run ending

Shares of American Express fell 4.4% in after Stephens downgraded the stock to equal-weight from overweight, saying the company’s “excellent performance is now the market expectation.” While Stephens expects American Express to continue to perform well, the firm said it doesn’t see any “material catalysts for 2020” to drive the stock higher. Piper Sandler also called out American Express’ strong execution in a note but highlighted a different risk: The impact of coronavirus on American Express from a potential decrease in travel and tourism spending. Piper Sandler said so far, the coronavirus risk for American Express is small. —Sheetz

10 am: Copper prices sink to their lowest level since October

Copper dropped more than 2% to its lowest level since October as investors fretted over the economic impact of the coronavirus. The metal traded around $2.62 per pound. Earlier in the session, it hit a low of $ 2.612 per pound, its lowest since Oct. 18. Copper is widely considered a bellwether for the global economy since it is used in everything from building houses to consumer goods. Declining copper prices may signal an economic slowdown is ahead. —Imbert, Francolla

9:57 am: Dow briefly turned negative for 2020

The Dow was negative for the year at its session lows shortly after the open. Breakeven for year is 28,538.44. The Dow hadn’t been lower for the year on an intraday basis since January 8. The S&P 500 is still modestly higher for 2020 (breakeven 3.230.78), while the Nasdaq is still solidly higher for the year (breakeven 8,972.61). — Hum

9:31 am: Dow opens down more than 500 points

The Dow Jones Industrial Average open was even worse than futures were signaling. The Dow dropped more than 500 points in the first minute as traders sold first and asked questions later on fears of the coronavirus hitting global business activity. Nike, which has big revenue exposure to the China consumer, was the worst performer in the Dow, losing 3%. It was the worst percentage Dow drop since October with the average off more than 1.5%. The S&P 500 lost 1.5%. Apple shares were off by 3% as well. —Melloy

9:25 am: J&J is ‘pretty confident’ it can create a coronavirus vaccine

Johnson & Johnson‘s chief scientific officer told CNBC on Monday that he believes the drugmaker can create a vaccine in the coming months to fight against the fast-spreading coronavirus. However, Dr. Paul Stoffels said it could take up to a year to bring it to market. “We have dozens of scientists working on this,” he told “Squawk Box,” confirming J&J started working on a coronavirus vaccine two weeks ago. Johnson & Johnson shares were off by just 0.6%, outperforming the broader market as some investors hid out in the stocks in the steady industry. —Bursztynsky

9:22 am: ‘Fear gauge’ surges as markets slump on virus fears

The Cboe Market Volatility Index surged above 18 on Monday morning as the broader stock market pointed toward a lower open. The index, often called Wall Street’s ‘fear gauge’, is about 4 points above where it closed on Friday and is at its highest level since October. Volatility has been abnormally low during the latest stretch for this bull market. The index means more investors are buying put options to protect from a market slide. — Pound

9:08 am: Macau visits down 60% from coronavirus

Visits to the Chinese territory Macau, known for its Las Vegas-like casino and gaming businesses, are declining as the Chinese coronavirus continues to spread throughout Asia. Through the third day of the Chinese New Year holiday, Macau visits were down 60% year-over-year, according to Deutsche Bank. Wynn Resorts, Las Vegas Sands and MGM Resorts International all have revenues coming from Macau. Wynn dropped 8%, Las Vegas Sands fell 7% and MGM ticked 5% lower in premarket trading on Monday. –Fitzgerald

9:06 am: 10-year Treasury yield slides to lowest since October

9:02 am: Oil’s slide continues, heads for 5-day losing streak

Oil moved lower again on Monday — pacing for the fifth straight session of losses — as fears over a potential slowdown in crude demand, sparked by the coronavirus outbreak, continued to pressure prices. U.S. West Texas Intermediate crude dropped more than 3% to $52.13, its lowest level since Oct. 10. International benchmark Brent crude also hit a more than 3-month low, after posting its worst week since Dec. 2018. “The corona virus has quickly morphed from being a curiosity to a potentially more ominous threat to the global economic and oil demand outlook for 2020,” Simmons Energy analyst Bill Herbert said in a note to clients Sunday. — Stevens

8:34 am: Oppenheimer downgrades Estee Lauder as coronavirus threat looms

Oppenheimer downgraded shares of cosmetic company Estee Lauder to perform from outperform and lowered their price target to $210 per share from $230 per share, as the death toll and infection rate of the Chinese virus continued to rise. In recent years, the Chinese consumer has represented a key driver in Estee Lauder’s business, offsetting weakness in the United States, said Oppenheimer. Credit Suisse estimates the makeup company has about 17% revenue exposure in China. “Although difficult to measure the precise impact and the length at which the coronavirus-related challenges could persist within the Chinese economy, we now expect EL’s higher margin travel-retail segment to be adversely impacted at least in Q3 (Mar.) and potentially longer,” Oppenheimer analyst Rupesh Parikh said in a note. After falling more than 10% last week, Estée Lauder ticked lower again on Monday. –Fitzgerald

8:27 am: Boeing shares under pressure as plane crash details to unfold

Shares of Boeing are down 1.6% in volatile trading as investors grapple with conflicting information about a passenger plane crash in Afghanistan on Monday. It was initially reported to be a plane from the state-owned Ariana Afghan Airlines. However, the airline’s acting CEO Mirwais Mirzakwal has since denied that one of its planes had crashed. It’s still unclear if it was a Boeing plane that went down. —Li

8:21 am: Bank of America downgrades Wynn Resorts on virus fears

Bank of America downgraded shares of hotel and casino chain Wynn Resorts to neutral from buy and lowered its price target to $150 per share from $160 per share as the Chinese coronavirus continues to spread, threatening travel and tourism-related stocks (see below). The deadly virus, which has killed more than 80 people and infected over 2,800 people, is getting stronger, forcing China to restricted travel for at least 35 million people across 15 cities. “Understandably, the Macau focused gaming names have traded off more than the broader market as they are 1) highly exposed to domestic Chinese travel, 2) the timing is concurrent with Chinese New Year,” Bank of America equity analyst Shaun Kelley said in a note to clients Monday. After falling more than 11% last week, Wynn shares dropped once again on Monday. –Fitzgerald

8:11 am: Travel and consumer stocks take a hit amid increasing coronavirus worries

Travel and gaming stocks are leading the broader market lower as fears over the coronavirus escalate. Las Vegas Sands, Wynn Resorts and MGM Resorts, which have big China gaming operations, all dropped at least 4.5% in the premarket. Airline shares such as American, Delta and United each slid at least 3% on fears of a slowdown in global travel because of virus fears. Expedia was off by 4% and Marriott International by 3%. Estee Lauder and Nike, two consumer stocks with high China sales exposure, fell 4.1% and 2.5%, respectively. Disney and Apple both dipped more than 2%. —Imbert

8:10 am: Dow set to drop more than 400 points as coronavirus fears permeate

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