The Dow Jones Industrial Average fell sharply yet again Wednesday morning after staging a rally a day earlier. Just on Monday the stock market had its worst drop since 2008 amid fears that the growing spread of coronavirus would push the global economy into recession.
The blue chip index was down more than 880 points, or 3.5%, in midday trading. The S&P 500 and the Nasdaq were down about 3%.
Early Monday afternoon, the World Health Organization declared that the disease COVID-19, caused by coronavirus, is a pandemic. As of Tuesday, the WHO was reporting 142,823 cases in 109 countries on six continents.