Dow tanks more than 950 points as Wall Street's roller-coaster week continues
Stocks plunged on Thursday, erasing most of the steep gains in the previous session, as markets remained highly volatile in the face of the fast-spreading coronavirus.
The Dow Jones Industrial Average ended the day 969.58 points, or 3.5%, lower at 26,121.28 after tanking nearly 1,150 at its session low. The S&P 500 dropped 3.3%, or 106.18, to 3,023.94 and the Nasdaq Composite fell 3.1%, or 279.49, to 8,738.60. All 11 S&P sectors finished the day in the red. Stocks turned sharply lower as the 10-year Treasury yield fell to an all-time low below 0.9%.
Fears about the coronavirus disrupting the global economy continued to grip Wall Street as countries around the world extended quarantines and travel restrictions. California declared a state of emergency after a coronavirus-related death and 53 confirmed cases in the state. The number of infections in New York also doubled overnight to 22 as the state ramps up its testing.
“The majority of this is just growing concern about the fallout from the virus because it’s spreading,” said Tom Essaye, founder of the Sevens Report. “For every hour, another group of people have it and it’s in another state. People are getting a bit nervous about this constant barrage of headlines.”
https://www.msn.com/en-us/money/markets/dow-tanks-more-than-950-points-as-wall-streets-roller-coaster-week-continues/ar-BB10LJQs?ocid=hplocalnews
Just another day in Trump land.
