The Dow (INDU) fell below 19,732 points Wednesday afternoon, briefly dropping past the index's closing level on January 19, 2017, the day before President Donald Trump took office.
But the Dow inched back to close slightly above that key level. The index finished Wednesday below 20,000 points for the first time since February 2017.
The S&P 500 (SPX) plunged 7% at midday, triggering a circuit breaker that halted trading for 15 minutes. That index is still above its Trump inauguration level, but it is closer to wiping out all of Trump's stock market gains. The S&P, the broadest measure of Wall Street, closed down more than 5%.
Global equities have been hit hard by the worries about the economic fallout from the coronavirus outbreak, which has by now infected more than 7,000 people in the United States.
Economists predict recessions for both individual countries and the world economy this year as the pandemic dealt both a supply and demand shock to commerce. That said, expectations for a sharp rebound for the economy and the stock market towards in the second half of the year are high.
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March 19, 2020 at 04:45AM
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The entire Trump stock rally is nearly gone - CNN
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