Dow Plummets Below 20K at the Open

Open down 6%
By Newser Editors,  Newser Staff
Posted Mar 18, 2020 6:26 AM CDT
Updated Mar 18, 2020 8:36 AM CDT
Dow Futures Aren't Painting a Pretty Picture
Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange, Monday, March 9, 2020. The Dow Jones Industrial Average sank 7.8%, its steepest drop since the financial crisis of 2008, as a free-fall in oil prices and worsening fears of fallout from the spreading coronavirus...   (AP Photo/Richard Drew)

(Newser) – The Dow closed up about 1,000 points on Tuesday, but all of that gain was erased at the open Wednesday. The Dow opened down nearly 1,300 points, or about 6%. The S&P 500 and Nasdaq were in the same ballpark, both down about 5.5% at the bell. As for the driver, "stimulus firepower fails to impress Wall Street," is how CNN's headline puts it. The AP had predicted a "third day of wild price swings." European indexes are down 3% to 4%. Australia's main index fell 6.4%, the worst showing in the region. The Wall Street Journal reports US crude futures sank 6.7% to $25.21 a barrel, the lowest they've been in almost 17 years. (Read more stock market stories.)

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