Novel Coronavirus COVID-19 Plunges Knife Deeply Into US Stock Market

Novel Coronavirus COVID-19 Plunges Knife Deeply Into US Stock Market

Wall Street’s major indexes fell on Tuesday and the S&P 500 was headed for a record first-quarter decline.

According to Reuters, that's due to the growing evidence of large-scale economic damage from the coronavirus pandemic.

The S&P 500 indexes and the Dow Jones Industrial average were set to end the quarter more than 20% below their levels at the start of the year.

The tech-heavy Nasdaq also registered its biggest quarterly decline since the end of 2018.