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| Wall Street taking another beating as coronavirus rages on | Wall Street taking another beating as coronavirus rages on |
| (32 minutes later) | |
| US stocks are trading sharply lower on Thursday after already plunging nearly 30 percent. The failure by Western countries to contain the Covid-19 outbreak is bringing global business to a halt and causing panic among investors. | |
| The Dow Jones Industrial Average is down over three percent. The S&P 500 is losing just under three percent at the start of trading, while the Nasdaq Composite tech index is one and a half percent lower. | |
| Despite opening higher earlier in the day, markets in Europe are also slipping. The British FTSE and German DAX are down around one percent during late afternoon trading. The French CAC 40, which was up for most of the day, was also trading less than a half percent lower. The drop came despite the pledge by the European Central Bank to help the region’s economy through the Covid-19 crisis by introducing a €750 billion ($821 billion) bond-buying program. | |
| Stocks in Asia-Pacific also finished with losses, with Australia’s stock market being the worst performer again and falling by nearly four percent. China’s Shanghai Composite was down almost one percent, while Hong Kong’s Hang Seng index closed nearly three percent lower. Japan’s Nikkei was also down more than one percent. | |
| The market jitters followed yet another bloodbath on Wall Street. On Wednesday, the Dow lost more than 1,300 points to close below 20,000 for the first time since February 2017. The S&P 500 fell more than five percent. | |
| The US stock market has been facing wild day-to-day swings amid the coronavirus turmoil, which has forced the US Federal Reserve to announce several rounds of emergency measures to support the economy. | |
| For more stories on economy & finance visit RT's business section |