Wall Street slammed on China virus fears

A sell-off slammed Wall Street Monday. Investors unloaded stocks nearly across the board, fearing the economic fallout from the virus outbreak in China as the death toll rose.

They sought safety in Treasury bonds, driving yields lower which in turn hurt bank stocks. The Dow and S&P 500 dropped more than 1-and-a-half percent.

Kramer Capital Research chief investment officer, Hilary Kramer:

SOUNDBITE: KRAMER CAPITAL RESEARCH CHIEF INVESTMENT OFFICER, HILARY KRAMER (ENGLISH) SAYING:

"We could be seeing some selling as investors say, 'Ooh, I should take my profits. I don't want to take a chance,' and we have tax season coming any way, So we might see some tax selling combined with fear selling."

In the epicenter of the viral outbreak, Wuhan, Yum China closed some of its KFC and Pizza Hut stores. That drove its shares sharply lower.

Travel-related stocks like casinos and air carriers took a blow. That list included Wynn Resorts, Melco Resorts, and American Airlines, United and Delta.

Bucking the downdraft: shares of D.R. Horton. Lower mortgage rates helped the U.S.' largest home builder pump up quarterly profit which topped Wall Street's estimates. Horton also raised the upper end of its estimate for full-year home sales.

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A sell-off slammed Wall Street Monday. Investors unloaded stocks nearly across the board, fearing the economic fallout from the virus outbreak in China as the death toll rose to 81. They sought safety in Treasury bonds, driving yields lower which in turn hurt bank stocks. The S&P 500 dropped ___%.

Kramer Capital Research chief investment officer, Hilary Kramer:

SOUNDBITE: KRAMER CAPITAL RESEARCH CHIEF INVESTMENT OFFICER, HILARY KRAMER (ENGLISH) SAYING:

"XXX."

In the epicenter of the viral outbreak, Wuhan, Yum China closed some of its KFC and Pizza Hut stores. That drove its shares sharply lower.

Travel-related stocks like casinos and air carriers took a blow. That list included Wynn Resorts, Melco Resorts, and American Airlines, United and Delta.

Bucking the downdraft: shares of D.R. Horton. Lower mortgage rates helped the U.S.' largest home builder pump up quarterly profit which topped Wall Street's estimates. Horton also raised the upper end of its estimate for full-year home sales.