Dow suffers biggest one-day drop since 2011
New York: U.S. stock markets suffered their worst one-day drop since 2011 over growing anxieties that the coronavirus will wreak havoc on the global economy. The Dow Jones Industrial Average tumbled nearly 1,200 points. The
The S&P 500 fell 137.63 points, or 4.4%, to 2,978.76. The Dow fell 1,190.95 points, or 4.4%, to 25,766.64. The Nasdaq dropped 414.29 points, or 4.6%, to 8,566.48.
S&P 500 has now plunged 12 percent from the all-time high it set just a week ago.
In commodities trading Thursday, benchmark crude oil fell $1.64 to settle at $47.09 a barrel. Brent crude oil, the international standard, dropped $1.25 to close at $52.18 a barrel.
That puts the stock index in what market watchers call a 'correction,'' which some analysts have said was long overdue in this bull market, the longest in history.