Dow Falls Nearly 3,000 Points As Virus Fears Spread

“U.S. stocks dropped sharply Monday even after the Federal Reserve slashed its benchmark interest rate to near zero, reflecting investors’ concerns that the emergency measures may not be enough to ward off a coronavirus-induced recession,” the Wall Street Journal reports.

“The Dow Jones Industrial Average slid 12.9%, or 2,999 points, as of the 4 p.m. Eastern time close of trading, dropping further during an afternoon news conference by President Trump.”