Mar 20, 2020 - Economy & Business

Stocks drop 4% to end worst week since 2008

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.

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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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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 11,565,541 — Total deaths: 536,658 — Total recoveries — 6,258,697 — Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 2,922,000 — Total deaths: 130,208 — Total recoveries: 924,148 — Total tested: 36,032,329 — Map.
  3. Public health: Case growth outpacing testing in hotspots.
  4. States: West Virginia becomes latest state to mandate facial coverings in public.
  5. Politics: Atlanta Mayor Keisha Lance Bottoms tests positive — Cuomo accuses Trump of "enabling" the coronavirus surge — Sen. Chuck Grassley opts out of attending GOP convention over coronavirus concerns.
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