The day was the first day of the week where the market opened and closed lower.
On the open, the SPX opened -$20 points lower with the Dow lower by -250 points after renewed concerns about the coronavirus. This virus is different than past ones (Ebola, Zika, etc.) in that this long into the outbreak, the market had already started its climb back above where the market had fallen from. In the past, we saw the virus outbreak leveling off, but this one we are not. So when we heard news that China was losing control over the virus and probably hiding a lot of cases, not to mention its GDP was suffering as a result, the market opened lower.
30 Minutes Later
After the market hit the lows of the day 2 times, Wholesale Inventory Numbers came out, and the market started to bounce. After that, VP Pence also had an interview on television saying we are going to grow out of the deficit and debt. He also praised China for how they were handling the virus, and the market slowly bounced.
90 Minutes Later
Within 90 minutes of the open, the SPX had climbed almost all the way back to unchanged for the day. It stayed there for a of couple hours before the Fed chairman spoke again.
4 ½ Hours after Open
The Feed came out and warned that asset values (stocks) were elevated, and the coronavirus was adding a new and unforeseen risk to global markets. This spooked the markets to fall again. The SPX made a new low for the day, getting down to 3322 (down -23.66).
On the close, the SPX bounced about 5 points to close down -18.07 (0.54%). AAPL closed down -$5.18. TSLA fell 0.89 to $748.07.