Press "Enter" to skip to content

Dow plunges 1,191 points to record its biggest point drop in history

Rising anxiety over the global coronavirus outbreak pushed the stock market into a new zone of fear Thursday.

After falling sharply all week, the Dow Jones Industrial Average tumbled 1,190.95 points to close at 25,766.64 — its worst onpoint drop in history. Mounting worries that the virus could spread in the USA rattled investors as the number of worldwide cases topped 82,000. Thursday’s losses put the blue-chip average into a correction – a decline of 10% from a recent high – for the first time since December 2018.

The sharp declines wiped out the Dow’s gains for the year and trillions of dollars from investors’ portfolios in a matter of days. Heading into Thursday, the average was down 7% this week, on track for its worst weekly percentage performance since the depths of the financial crisis in 2008.

Save better, spend better:All the money tips and advice delivered right to your inbox. Sign up here

Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *