Dow dives as retail report hits record low and global coronavirus cases pass 2 million

The Dow Jones Industrial Average dropped 532 points Wednesday morning. The S&P 500 lost 2.3%.

Dow futures were down almost 500 points before the morning opening, as U.S. retail sales plunged a record 8.7% in March.

Both Asian and European markets were down on Wednesday.

On Tuesday, President Trump announced that the United States would halt funding to the World Health Organization, accusing the group of mishandling the outbreak of the virus and approaching the handling of the pandemic with a China-centric view. 

Major U.S. airline stocks were up this morning, as the company executives reached a deal with the Treasury Department to receive a $25 billion payroll grant.