Dow closes down 2,000 points in largest daily point loss ever
The Dow Jones Industrial Average sank more than 2,000 points Monday, notching its worst day since 2008 as market angst over the spread of the novel coronavirus and a new oil price war sent investors scrambling for safety.
The Dow closed down 2,013 points, or 7.8%, as energy and financial stocks dragged the blue-chip index down. The S&P 500 plunged 7.6%, while the Nasdaq sank 7.3%. The 30-stock benchmark was down 2,158 points at its session low. The massive sell-off triggered a key market circuit breaker minutes after the opening bell. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET.
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday’s drop was significant, it still didn’t crack the 20 worst days for the S&P 500.
Investors continued to seek safer assets amid additional fears that the coronavirus will disrupt global supply chains and tip the economy into a recession. The yield on the benchmark 10-year Treasury note dropped below 0.5% for the first time ever, while the 30-year rate breached 1%. At one point early Monday, the 10-year slid to 0.318%.
https://www.msn.com/en-us/money/markets/dow-closes-down-2000-points-in-largest-daily-point-loss-ever/ar-BB10LJQs?li=BBnb7Kz
Trump finally is number 1 in one category.