Updated Mar 18, 2020 - Economy

Market volatility persists as S&P 500 sinks 5% amid coronavirus fears

Traders work on the floor of the New York Stock Exchange (NYSE) on March 17, 2020 in New York City

Photo: Spencer Platt/Getty Images

Stocks closed down more than 5% on Wednesday after a volatile day that saw trading halt for the fourth time this month amid novel coronavirus concerns.

Why it matters: Stocks swung lower as the White House unveiled its stimulus plan, before recovering some ground. The S&P 500 is 29% below its February record-high.

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