The Dow Jones Industrial Average and other U.S. stock indexes fell again Monday as central bankers and lawmakers struggled to deal with the coronavirus pandemic's economic damage.
The Dow fell more than 900 points, leaving the index 2.8% lower than when President Trump took office. The drop culminated a staggering week of losses as the coronavirus impact took an economic toll.
The Dow tumbled nearly 13% after the Federal Reserve aggressively cut interest rates to near zero and as the nation imposed more restrictions in an effort to curb the spread of the coronavirus.
The Dow Jones Industrial Average and other major stock indexes jumped as President Trump declared a national emergency to deal with the coronavirus pandemic.
Stock indexes rose nearly 5% after the market's worst day since 2008. The jump followed President Trump's call for a payroll tax cut and other steps to help the economy amid the coronavirus epidemic.
Stock indexes tumbled so fast Monday that marketwide trading was halted temporarily for the first time since October 1997. The Dow Jones Industrial Average fell 2,013 points, or nearly 8%.
The stock market made a comeback after spending much of Thursday in negative territory, a day after a record-setting rally on Wall Street. The Dow closed up nearly 260 points, more than 1 percent.
The Dow rebounded Friday, closing up more than 300 points. But the index lost about 5 percent for the week as the markets focused on inflation and ballooning government debt.
The stock market continued to lose ground Monday after Friday's steep drop, with the Dow Jones industrial average down nearly 1,200 points — its worst single-day drop.