Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 16, 2020 at Wall Street in New York City. - Trading on Wall Street was halted immediately after the opening bell Monday, as stocks posted steep losses following emergency moves by the Federal Reserve to try to avert a recession due to the coronavirus pandemic.Just after the opening bell, the S&P 500 was at 2,490.47, a drop of 8.1 percent and beyond the seven percent loss that automatically triggers a 15-minute trading halt. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)
It was another ugly day for US stocks.
The Dow recorded its worst one-day point drop in history and its worst performance on a percentage basis since October 19, 1987, also known as “Black Monday.”
Stocks fell to session-lows in the final hour of trading after President Trump suggested fighting the outbreak could last until July or August.
Here’s where things stand:
- The S&P 500 finished down nearly 12%.
- The Dow closed 2,999 points, or 12.9%, lower.
- The Nasdaq Composite ended down 12.3%.