Finance

Dow records worst point drop in history

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%.