Worst Day on Wall Street since 1987 as Virus Fears Spread

NEW YORK (AP)-The stock market had its biggest drop since the Black Monday crash of 1987 as fears of economic fallout from the coronavirus crisis deepened.

The Dow plunged more than 2,300 points, or 10%.

The sell-off came despite action from the Federal Reserve and the European Central Bank. The steep drops over the last month have wiped out most of the big run-up on Wall Street since President Donald Trump’s inauguration.

Markets have turned turbulent amid a cascade of shutdowns across the globe and rising worries that the White House and other authorities around the world can’t or won’t help the weakening economy any time soon. 

By Stan Choe and Alex Veiga, Associated Press

About Brendan Fitzpatrick

Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the CapeCod.com NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.



CapeCod.com
737 West Main Street
Hyannis, MA 02601
Contact Us | Advertise Terms of Use 
Employment and EEO | Privacy