U.S. Stock Market Poised to Extend Worst Streak since 2008

By Justin Pei

Rochester — Stocks continue to plummet as panic over the spreading coronavirus continued into its seventh day on Friday in the U.S. The Dow Jones Industrial Average was down over 600 points after plummeting by over 1,000 points or 4%.

The losses during early trading come a day after the Dow lost 1,190.95 points, the biggest single-day drop for the index. The S&P 500 dropped more than 3% in early trading, but was only about 15.7% off its record intraday trading.

The index was already down 12% from last week’s record high and is on track for its worst week since the 2008 financial crisis. The Nasdaq Composite also fell more than 3% Friday.

There are now over 83,000 cases of coronavirus across the globe, with 15 confirmed cases in the U.S. The World Health Organization said the outbreak could potentially spread to every country in the world.