coronavirus banner

Dow Craters on coronavirus fear, oil drop

Coronavirus

(NBC News) – The Dow Jones Industrial Average recorded its steepest points drop ever Monday in a sell-off fueled by fears of the coronavirus and plummeting oil prices.

The down dropped more than 2,000 points, shedding nearly eight percent of its value.

The opening sell-off was so drastic that trading was briefly halted, an automatic safeguard designed to prevent a crash.

Secretary of Health and Human Services Alex Azar, the only White House official to comment on the drop as it was happening, said “President Trump delivered a historically strong economy. The fundamentals in this economy are unbelievable.” 

In a series of tweets, President Trump continued to downplay the coronavirus threa, touted falling gas prices as good for the consumer and blamed the “fake news” for the market drop. 

Read more: https://nbcnews.to/2Q1Yj5X

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Trending Stories