Stocks plummeted Thursday morning after President Trump banned travel from Europe to the U.S. and outlined his plans to bolster the economy in a Wednesday night speech.
The
Dow Jones Industrial Average fell 1,666 points after trading began
Thursday, plunging 7.1 percent. The index slipped into more than 20
percent below its 52-week high Wednesday, entering what traders consider
a bear market.
The
S&P 500 fell 6.6 percent Thursday, also falling into bear market
territory, while the Nasdaq composite also fell 6.6 percent.
Thursday’s plunge is the latest signal of deep concern within financial markets about the economic toll of the COVID-19 coronavirus and the efforts to mitigate its spread. There are more than 1,000 confirmed cases of coronavirus within the U.S., with cases likely to climb as testing continues.