The Dow erases all its gains since President Trump took office
The Dow fell more than 1,800 points on Tuesday, bringing the index below 19,732 points. That was the Dow's closing level on January 19, 2017, the day before Trump took office. The S&P 500 plunged 7% at midday, triggering a circuit breaker which halted trading for 15 minutes. That index is still above its Trump inauguration level, but it is moving closer to wiping out all of Trump's stock market gains as well. The index, which is the broadest measure of Wall Street, was down 6.
3% in the early afternoon on Tuesday.Global equities have been hit hard by the worries about the economic fallout from the coronavirus outbreak, which has by now infected more than 7,000 people in the United States.Economists predict recessions for both individual countries and the world economy this year as the pandemic dealt both a supply and demand shock to commerce.
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