Coronavirus fears hit markets, bringing US shares down as tech and SaaS slip

Fears over the potential impact of the coronavirus spreading in Europe, Asia, and the Middle East have sent stocks plummeting in Monday's open -- with tech stocks among the hardest hit. Over the weekend, cases outside of China swiftly rose in Europe and other parts of Asia, indicating that hopes of containing the virus' spread appear to be dashed. Economists expect China to release key indicators about the strength of its economy later this week and the news does not look good.

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