(WBBM NEWSRADIO) -- Stocks closed lower Thursday as investors wrestled with the rise in new cases of the fast-spreading coronavirus and how that could impact economies around the globe.
The S&P 500 lost 5, the NASDAQ shed nearly 14 and the Dow Jones industrial average closed down 128 points, settling to 29,423.
“To have a one-day pullback probably isn't unusual," Jack Ablin, chief investment officer at Cresset Wealth Advisors in Chicago, said. "Apparently China has started using a different way of measuring the virus and that caused a spike in the numbers."
He adds that he is really bullish on the U.S. consumer, and stocks centered around them should do well going forward.