NEW YORK — The stock market had its biggest drop since the Black Monday crash of 1987 Thursday as fears of economic fallout from the coronavirus crisis deepened.
The sell-off, which sent the Dow industrials down 10%, came despite supportive steps from the Federal Reserve and the European Central Bank.
The steep drops over the last month have wiped out most of the big run-up on Wall Street since President Donald Trump’s inauguration.
On Thursday:
The S&P 500 index fell 260.74 points, or 9.5%, to 2,480.64.
The Dow Jones Industrial Average lost 2,352.60 points, or 10%, to 21,200.62.
The Nasdaq dropped 750.25 points, or 9.4%, to 7,201.80.
The Russell 2000 index of smaller company stocks gave up 141.39 points, or 11.2%, to 1,122.91.
For the week:
The S&P 500 is down 491.73 points, or 16.5%.
The Dow is down 4,664.16 points, or 18%.
The Nasdaq is down 1,373.82 points, or 16%.
The Russell 2000 is down 326.31 points, or 22.5%.
For the year:
The S&P 500 is down 750.14 points, or 23.2%.
The Dow is down 7,337.82 points, or 25.7%.
The Nasdaq is down 1,770.80 points, or 19.7%.
The Russell 2000 is down 545.55 points, or 32.7%.
