In the wake of President Donald Trump’s disastrous coronavirus address, the Dow Jones Industrial Average recorded its largest point drop in history, and its largest percentage drop since 1987, on Thursday.
The Wall Street Journal reports: The U.S. stocks selloff that pushed the Dow Jones Industrial Average into a bear market worsened Thursday as the coronavirus pandemic threatened to deeply harm global growth. The Dow Jones Industrial Average fell 2,352 points, or 10%, its sharpest decline since the October 1987 crash. The S&P 500 fell 9.5%, while the Nasdaq lost 9.4%, putting both of those indexes in bear-market territory for the first time since 2009.
More from NBC News: Banks, travel, and energy sectors both notched up double-digit losses, after President Donald Trump issued a ban on foreign entry into the U.S. for some travelers. Trading was halted twice, triggering thresholds that paused market activity on the floor of the New York Stock Exchange in premarket trading and immediately after the opening bell. “It’s going to all bounce back and it’s going to bounce back very big,” Trump said Thursday, during a meeting with Ireland’s Prime Minister Leo Varadkar.