Biggest single day percentage fall since March 18
New York ,Digital Report : Wall street plunged near 7 percentage on fears of spurt in virus infections. U.S stocks slumped on Thursday with S&P 500 and the Dow Jones set for their steepest percentage declines since March 18; as investors fretted over second wave of novel coronavirus infections and gloomy economic forecast from the federal reserve.
At 4.04 PM (GMT-4) , the Dow Jones Industrial was down 1,861.82 points or 6.90% at 25,128.17 , the S&P 500 was down 188.04 points or 5.89% at 3002.10 . The NASDAQ composite was down 485.43 point, or 4.84% at 9,534.92
The three main US sticks indexes were trading at a one week low as new coronavirusa cases rose in the United States after five weeks of declines, according to a Reuters analysis.
All major S&P sectors were deep in the red with financial , energy and material sectors ,that track economic growth , posting the biggest declines.
The sharp selling was driven in large part by fears of resurgence of the Wuhan pandemic that wrecked the US economy.