The fear of coronavirus has hit Wall Street in New York on Thursday (February 27) with stocks at the lowest since 2008.
All three major US indexes are now on track for their worst week since the financial crisis.
The Dow fell as many as 960 points Thursday before coming back a bit. The index was down 530 points, or 2% lower, by late morning. The S&P 500 also dropped 1.9%. The Nasdaq, which was the only major stock index to end Wednesday in the green, fell 2.1%.
Stocks have been selling off around the world all week as investors fret about the spread of the virus.
The Dow (INDU), Nasdaq Composite (COMP) and S&P 500 (SPX) all fell more than 10% below their most-recent peak, putting them in correction. In the United Kingdom, the FTSE 100 (UKX) also fell into correction territory Thursday. This is the market's first correction since December 2018.
Video shows the famous financial block with an eery sense of quiet.
