Wall Street Plunges, Biggest Loss Since March

Wall Street Plunges, Biggest Loss Since March

NEW YORK (Reuters) - Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve.

All three major U.S. stock indexes were down about 5%, posting their worst day since mid-March, when markets were sent into freefall by the abrupt economic lockdowns put in place to contain the pandemic.

The Nasdaq snapped a three-day streak of record closing highs.