US stocks plummeted on Thursday, recording their worst day since the big coronavirus selloff in March.
Investors were spooked by rising Covid-19 cases across the United States as the country is easing its lockdown restrictions. This comes after the Federal Reserve shared a dire outlook for the economy in Wednesday’s monetary policy update.
Here is where things stood at closing:
- The Dow closed 1,862 points, or 6.9%, lower. It was its worst day since March 16 in terms of both point and percentage declines. The index fell back below 26,000 points for the first time since the start of the month.
- The S&P ended down 5.9%. It was its worst day since March 16. Only one S&P stock – Kroger – closed in positive territory.
- The Nasdaq Composite, which hit all-time highs on the first three days of the week, closed 5.3% lower. That was its worst one-day drop since March 16. The index finished above 10,000 points for the first time in history Wednesday, but on Thursday it fell back to a level not seen since late May.
Remember: As stocks settle after the trading day, levels might still change slightly.