For the second time this week, stock trading has been halted on Wall Street after the Dow dropped by 7% amid the new coronavirus outbreak. Meanwhile, Congress has closed the U.S. Capitol, House and Senate office buildings to the general public until April 1.
The sell-off bludgeoning financial markets around the world got even worse Thursday as the economic pain caused by the coronavirus became more painfully clear. Worries are rising that the White House and other authorities around the world can’t or won’t do what’s needed to help soon.
After the Dow Jones Industrial Average closed in a bear market for the first time in more than a decade, President Donald Trump said late Wednesday he would restrict travel to Europe in hopes of containing the virus. It’s the latest hit for an airline industry already battered by frightened travelers cancelling plans, and market losses accelerated around the world as Trump spoke while giving few details about a big stimulus program that could help.