Tuesday, 26 May 2020
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Dow plunges nearly 1,200 points and closes in correction territory as coronavirus fears dog Wall Street

U.S. stock benchmarks on Thursday finished more than 4% lower and tumbled into correction territory as a sharp retreat for risk assets accelerated into the close on Wall Street.

Fears about an outbreak of COVID-19, the infectious disease that reportedly originated in Wuhan, China, late last year, have helped to drive stock benchmarks sharply lower this week.

The Dow Jones Industrial Average closed down about 1,200 points, or 4.4%, at 25,763, while the S&P 500 index closed down 4.4% at 2,978, breaking below a psychological level at 3,000, and the Nasdaq Composite Index finished off 4.6% at 8,566.

A correction is widely viewed as a 10% drop from a recent peak, but not greater than 20%.

Source : MarketWatch

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