The spread of the novel coronavirus has spurred a global health emergency, compelling the World Health Organization to declare a pandemic. The outbreak has also stirred unease in financial markets, with all major U.S. stock indices showing steep declines over the last three months.
As of Friday, the WHO had confirmed more than 234,000 cases of COVID-19, the disease caused by the virus, and more than 9,800 deaths resulting from it.
As of market close Friday, the Standard & Poor’s 500 index had lost 926 points, or about 29% of its value, since Dec. 31, the day the World Health Organization was first informed of pneumonia cases of an unknown cause in Wuhan, China.
Over that same period, the Down Jones Industrial Average had lost nearly 9,300 points, or about 33%. The Nasdaq Composite had declined almost 2,100 points, or about 23%.
In the last two weeks, the S&P 500 has experienced the third- and sixth-largest single-day percentage losses and the ninth-largest single-day percentage gain in its history.