Wall Street stocks tumble after US becomes worst-hit nation by coronavirus
US markets dropped on Friday as the House of Representatives is expected to vote on a $2 trillion stimulus bill to contain the coronavirus spread. The US is now the worst-hit nation with more than 85,000 people infected.
The Dow Jones Industrial Average tanked more than 800 points at the opening, ending a three-day rally on Wall Street. Both the S&P 500 and the Nasdaq Composite are also down around three percent.
The US Labor Department reported on Thursday a record number of jobless claims which surged to 3.28 million. The number eclipsed the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982.
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Wall Street stocks tumble after US becomes worst-hit nation by coronavirus