NEW YORK (AP) — U.S. stocks fell sharply Monday, following a sell-off in overseas markets, as a surge in virus cases and a worrisome spread of the disease outside China sent investors running for safety.

The Dow Jones Industrial Average slumped fell 927 points, or 3.2%, to 28,096, erasing its gains for the year.

The S&P 500 index skidded 103 points, or 3.1%, to 3,234. The Nasdaq fell 348 points, or 3.6%, to 9,228.

Demand for bonds, gold, and other safe-harbor assets surged.

Cases of the virus spiked in South Korea and rose sharply in Italy, while infections were also reported in the Middle East.

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