The overnight action followed the official end of the record-long bull market run.
The S&P 500 plummeted 9.5% in its worst day in more than three decades Thursday, joining the Dow in a bear market, or more than 20% from its recent peak. The Dow also suffered its worst point drop ever and the biggest percentage decline since 1987.
The market's historic drop on Thursday indicated that investors believe the government's fiscal plans and the Federal Reserve's ramped-up funding actions wouldn't be sufficient to offset the economic impact from the coronavirus. Stocks briefly cut losses Thursday after the Fed said it would conduct three repo operations as part of a stepped-up program to help keep liquidity flowing. The central bank added more than $198 billion to the financial system in a combination of overnight and longer-term offerings. But the market ended up closing at session lows.
Investors were also bombarded with a slew of negative headlines about the fast-spreading coronavirus. The NCAA has canceled its March Madness basketball tournaments, a day after the
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