Dow flip-flops and closes down more than 100 points after failed rally tacks on losses to brutal selloff on fears of coronavirus pandemic wreaking economic havoc
US stock indexes closed lower on Wednesday marking the fifth day An earlier rally had sent the Dow up 400 points but stocks dropped again The S&P 500 is down 7.8% from its intraday record high, hit last Wednesday
U.S. stock indexes closed mostly lower on Wednesday, erasing early gains after four days of steep selloffs amid fear of the coronavirus wreaking havoc on the world economy.
The S&P 500 fell 11 points, or 0.4 percent, to 3,116. The Dow Jones Industrial Average fell 123 points, or 0.5 percent, to 26,957. The Nasdaq edged up 15 points, or 0.2 percent, to 8,980.
It follows a sharp selloff that gutted the Dow by more than 1,900 points in two days, as the World Health Organization (WHO) cautioned that the rapid spread of the virus to more places was inevitable, even as the outbreak in China had peaked.
U.S. stock indexes opened higher on Wednesday, after four days of steep selloffs amid fear of the coronavirus. Pictured above are traders on the NYSE on Ash Wednesday