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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Axios

Updated 15 mins ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 9 a.m. ET: 31,092,895 — Total deaths: 961,301— Total recoveries: 21,274,210 — Map.
U.S.: Total confirmed cases as of 9 a.m. ET: 6,812,470 — Total deaths: 199,517 — Total recoveries: 2,590,671 — Total tests: 95,108,559 — Map.
Health: CDC updates guidances to say coronavirus can be spread through the air — Nursing homes are evicting unwanted patients.
Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
Education: College students give failing grade on return to campus.
Business: Unemployment concerns are growing.
World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

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The tech war between the U.S. and China escalates

Illustration: Aïda Amer/Axios

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