Stocks closed with broad losses on Wall Street Thursday as coronavirus cases in the U.S. increased again, deflating recent optimism that the economy could recover quickly from its worst crisis in decades.
The Dow Jones industrials lost more than 1,800 points and the S&P 500 index fell nearly 6%, its worst day in almost three months. The pullback comes after the market has been screeching higher for more than two months at a pace that many skeptics say was overdone and didn’t reflect the dire state of the economy.
The S&P 500 dropped 188.04 points, or 5.9%, to 3,002.10.
The Dow skidded 1,861.82 points, or 6.9%, to 25,128.17.
The Nasdaq composite lost 527.62 points, or 5.3%, to 9,492.73.
The Russell 2000 index of small company stocks fell 111.17 points, or 7.6%, to 1,356.22.
For the week:
The S&P 500 is down 191.83 points, or 6%.
The Dow is down 1,982.81 points, or 7.3%.
The Nasdaq is down 321.36 points, or 3.3%
The Russell 2000 is down 150.93 points, or 10%.
For the year:
The S&P 500 is down 228.68 points, 7.1%.
The Dow is down 3,410.27 points, or 12%.
The Nasdaq is up 520.12 points, or 5.8%
The Russell 2000 is down 312.25 points, or 18.7%.