The Dow Jones Industrial Average on Friday closed the stock index’s worst week since 2008, erasing all gains the market enjoyed under President Trump.
The Dow plunged more than 900 points, or 4.55%, to close below 20,000. The slide continued weeks of panic selling over fears of the coronavirus pandemic, which has claimed more than 11,000 lives worldwide and virtually shut down the U.S. economy.
The losses contributed to a 17% loss this week on the Dow.
The price of U.S. crude oil also continued to free fall in anticipation of a sharp drop in demand for energy as manufacturing, travel and commerce grind nearly to a halt.
New York on Friday became the latest state to mandate nearly all workers stay home to limit the spread of the virus.
• This story is based in part on wire service reports.
• S.A. Miller can be reached at smiller@washingtontimes.com.
• Alex Swoyer can be reached at aswoyer@washingtontimes.com.
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