The Dow marked its biggest one-day point drop to ever be recorded on Thursday
The stock market saw a massive drop on Thursday, just two days after officials urged Americans to startFears sparked by the recent disease outbreak caused the Dow Jones Industrial Average to decline by 1,190.95 points and close at 25,766.64, while the S&P 500 index, which measures the stock performance of the top 500 companies in the U.S., fell by 4.4 percent to 2,978.
Following the drops, Ascent Private Capital Management’s global investment strategist Tom Hainlin reportedly said that because the virus-related decline is unprecedented, they’re treating it with immense caution. Other experts — including Goldman Sachs chief U.S. equity strategist David Kostin and Former Federal Reserve Chair Janet Yellen, and head of U.S. rates trading at AmeriVet Securities Gregory Faranello — also spoke out about the coronavirus epidemic and its inevitable effect on the U.S. economy.
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