US stocks plunge most since financial crisis

The S&P 500 sank the most since December 2008, the Dow Jones Industrial Average tumbled 2,000 points and small caps lost more than 9% as investors fled risk assets with virus cases surging and the Trump administration so far unwilling to step in to soften the expected economic blow.

NEW YORK: U.S. stocks plunged more than 7.5% in the worst day on Wall Street since the financial crisis, as a full-blown oil price war rattled financial markets already on edge over the spreading Covid-19 coronavirus. Treasury yields plummeted, crude sank 20% and credit markets buckled.

The S&P 500 sank the most since December 2008, the Dow Jones Industrial Average tumbled 2,000 points and small caps lost more than 9% as investors fled risk assets with virus cases surging and the Trump administration so far unwilling to step in to soften the expected economic blow.