US Stocks Drop as Economic Outlook Deteriorates On Covid-19

Major US stock indices opened lower on Wednesday as Corona virus infections grew at an alarming rate in the United States and Europe, dashing hopes for a speedy recovery for the global economy.

The Dow Jones Industrial Average fell 361.05 points, equivalent to 1.31%, to 27,102.14 points, and the S&P 500 Index fell by 61.54 points, or 1.81%, to record 3,329.14 points, and the Nasdaq Composite Index fell 200.45 points, or 1.75%, to 11230.90 points.