Mar 20, 2020 - Economy & Business

Stocks drop 4% to end worst week since 2008

Traders work during the opening bell at the New York Stock Exchange (
Photo: Johannes Eisele/AFP via Getty Images

Stocks closed more than 4% lower on Friday, with the S&P 500 shedding 4.3%, the Dow dropping 4.6% (or 927 points), and the Nasdaq falling 3.7%.

Why it matters: It caps a bruising week for Wall Street — you'd have to go back to 2008 to see worse losses — as the coronavirus outbreak forces more of the world's biggest economies to shut down.

Data: FactSet; Chart: Axios Visuals
Data: FactSet; Chart: Axios Visuals

By the numbers: The S&P 500 fell 13% this week, while the Dow dropped 17%.

  • Both are now more than 30% below the record highs hit in February.
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