Trump talks stocks amid coronavirus plunge
Coronavirus fears erased all the gains for the Dow and the S&P in 2020
The Dow Jones Industrial Average and the S&P 500 registered their third-worst point drop in history on Monday as fears over the coronavirus spreading beyond China took its toll.
|I:DJI||DOW JONES AVERAGES||32908.27||-134.51||-0.41%|
|I:COMP||NASDAQ COMPOSITE INDEX||12935.285372||-82.14||-0.63%|
Shortly after the Dow closed 1,031.61 points lower, President Trump, in a tweet, insisted the virus is under control and any selloff today is likely an opportunity.
DOW TUMBLES OVER 1,000 POINTS ON CORONAVIRUS FEARS
"The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!" he tweeted during his historic trip to India.
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The Dow Jones Industrial Average plunged by as many as 1,080 points, or 3.7 percent intraday, before trimming its losses while the S&P 500 and Nasdaq fell by as much as 3.5 percent and 4 percent, respectively.
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The point drop for the Dow and S&P, now in negative territory for 2020, was the largest since February of 2018. For the Nasdaq it was the steepest point decline since December of 2018.