Stocks sank to their worst week since the financial crisis of 2008 as traders went into full retreat out of fear that the coronavirus will plunge the United States and other major economies into deep recessions.
The Dow Jones industrial average dropped more than 900 points Friday, extending its weekly loss to 17%. The price of U.S. crude oil also took another nosedive as investors anticipate a sharp drop in demand for energy as manufacturing, travel and commerce grind nearly to a halt.
The S&P 500 dropped 4.3% and the NASDAQ slid 3.8%.
This story will be updated.