Dow drops more than 900 points, ending worst week since 2008

U.S. & World

NEW YORK, NEW YORK – MARCH 18: Traders work on the floor of the New York Stock Exchange (NYSE) on March 18, 2020 in New York City. The Dow fell more than 1,200 points today as COVID-19 fears continue to roil world markets. (Photo by Spencer Platt/Getty Images)

Stocks sank to their worst week since the financial crisis of 2008 as traders went into full retreat out of fear that the coronavirus will plunge the U.S. and other major economies into deep recessions.

The Dow industrials dropped more than 900 points, extending their weekly loss to 17%. The price of U.S. crude oil also took another nosedive as investors anticipate a sharp drop in demand for energy as manufacturing, travel and commerce grind nearly to a halt.

New York became the latest state to extend a mandate to nearly all workers stay home to limit the spread of the virus.

Starting Monday, the floor at the US Stock Exchange will be empty to promote social distancing.

COMPLETE COVERAGE: Coronavirus pandemic

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