Wall Street worst hit in three decades amid coronavirus outbreak

As coronavirus pandemic is rampaging global markets all over, Wall Street stocks on March 16 recorded its worst day since 1987. According to reports, Dow Jones Industrial Aver, a stock market index that measures performance of 30 biggest companies, fell by 12.9 per cent, which is nearly 3,000 points. carn came after United States shut down a large part of country due to coronavirus outbreak and vised people to stay at home. 

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As per reports, tech-rich Nasdaq, one of three widely followed indices in US stock market, fell by 12.3 per cent to 6,904.59, while S&P 500 shed 12.0 per cent to settle at 2,386.13. It was worst day for Wall Street in three deces and fear of recession still looms large. President Donald Trump on March 16 for first time ackwledged that US ecomy 'may be' heing towards its worst, something which experts have indicated as well. 

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Donald Trump during a press briefing told reporters that as soon as virus is eliminated ecomy will take care of itself. Some of big losers at Wall Street where companies like Boeing, which was alrey under crisis after grounding of 737 MAX, recorded a whopping 23.8 per cent fall. McDonald's, Chevron, Intel, Home Depot were or big losers, all of which fell by 15 per cent. 

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Coronavirus outbreak

United States has so far recorded 4,718 cases of coronavirus, of which 62 cases came in last 24 hours and 74 of m have recovered fully. According to data acquired by worldometer, United States has logged in 93 deaths since virus first broke out in December last year. total number of active cases in country is above 4,500 of which 12 patients remain under critical condition. 

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COVID-19 has claimed more than 7,100 lives across world and has infected over 1,82,000 people globally since it first broke out in December 2019. China is most affected country in world as experts believe that virus originated from a seafood market in Wuhan city, epicentre of disease, where animals were reportedly being tred illegally.