APN News

  • Wednesday, March, 2020| Today's Market | Current Time: 02:57:50
  • S&P500, Dow Jones suffer biggest one-day percentage losses in two years on fears of coronavirus

    Published on February 25, 2020

    On Wall Street, yesterday, the S&P 500 and the Dow Jones Industrial Average suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic.

    The S&P and the blue-chip Dow turned negative for the year to date and the Dow dropped more than 1,000 points on the day for only the third time in its history. The Nasdaq plummeted 3.7 percent, the biggest daily percentage drop of the three major averages.

    So the Dow Jones Industrial Average tanked 1,032 points, or 3.6 percent, to close at 27,960. The S&P 500 tumbled 112 points, or 3.4 percent, to end at 3,226. And the Nasdaq Composite plummeted 355 points, or 3.7 percent, to 9,221. All the 11 major S&P sectors ended lower, led by the energy sector, plunging 4.7 percent, followed by a 4.2 percent drop in technology stocks.
    Apple slid 4.8 percent, as data showed sales of smart phones in China tumbled more than a third in January.