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How the spread of coronavirus is affecting the stock market

The total number of confirmed U.S. cases of coronavirus is now 53.

Five more people have tested positive for coronavirus in Texas. They were under quarantine at Lackland Air Force Base in San Antonio on Monday after coming from a cruise ship off the coast of Japan. The new cases bring the total number in San Antonio to six, including a patient previously under federal quarantine at Lackland.

The new cases are among the 18 new cases reported nationwide Monday. The total number of confirmed U.S. cases is now 53.

In China, official figures show 77,150 confirmed cases since the outbreak began, with 2,592 people killed by the virus. 

The virus has also hit Italy hard. Over the weekend, there was a rapid spike in confirmed cases from three on Friday to 215 by Monday.

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More people have also gotten sick in South Korea, Afghanistan, Kuwait, Iraq, Iran and Bahrain. Worldwide, 29 countries have reported cases of coronavirus.

Now fear of the global spread of the virus and its impact on the world economy has shocked the U.S. stock market. On Monday, the Dow Jones Industrial Average sank by 1,031 points or 3.5%.

To calm concerns in the U.S., President Donald Trump tweeted Monday that “The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!”

WATCH: University of Texas at Austin researchers developing coronavirus vaccine

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