Dow sinks 1,600 points as fear of virus fallout grips market
NEW YORK (AP) — Stocks are falling sharply on Wall Street as fears of economic fallout from the coronavirus outbreak grip markets again. The Dow Jones industrials dropped 1,600 points, or 6.7% in late trading Wednesday. Both the Dow and the broader S&P 500 have now fallen roughly 20% from their recent highs. The losses accelerated after health authorities declared the outbreak a pandemic. Investors are still waiting for details from the Trump administration about aid promised for the economy. The Bank of England cut interest rates as an emergency measure, following similar moves by central banks in the U.S. and Canada.
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