Dow flip-flops and closes down more than 100 points

Dow flip-flops and closes down more than 100 points after failed rally tacks on losses to brutal selloff on fears of coronavirus pandemic wreaking economic havoc US stock indexes closed lower on Wednesday marking the fifth day  An earlier rally had sent the Dow up 400 points but stocks dropped again  The S&P 500 is down 7.8% from its intraday record high, hit last Wednesday 

By Keith Griffith For Dailymail.com and Wires

Published: 14:53 GMT, 26 February 2020 | Updated: 00:47 GMT, 27 February 2020

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U.S. stock indexes closed mostly lower on Wednesday, erasing early gains after four days of steep selloffs amid fear of the coronavirus wreaking havoc on the world economy. 

The S&P 500 fell 11 points, or 0.4 percent, to 3,116. The Dow Jones Industrial Average fell 123 points, or 0.5 percent, to 26,957. The Nasdaq edged up 15 points, or 0.2 percent, to 8,980. 

It follows a sharp selloff that gutted the Dow by more than 1,900 points in two days, as the World Health Organization (WHO) cautioned that the rapid spread of the virus to more places was inevitable, even as the outbreak in China had peaked. 

said at a news conference on Wednesday that the risk of people is 'very low', but added that the US is prepared to 'spend whatever's appropriate' to deal with the outbreak. 

U.S. stock indexes opened higher on Wednesday, after four days of steep selloffs amid fear of the coronavirus. Pictured above are traders on the NYSE on Ash Wednesday

U.S. stock indexes opened higher on Wednesday, after four days of

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