Dows close down 925 points, worst week since 2008
Markets failed to put together back-to-back gains
March 20, 2020 - 5:05pm
The Dow on Friday lost 925 points, ending Wall Street’s worst week since the 2008 recession, as fears of corporate bankruptcies, a recession and other economic problems as a result of the coronavirus take their toll on investors.
The markets open with slight gains and optimism that it could put together two straight days of gains. However, the losses Friday further erased record-high gains over the past three years.
The Dow Jones Industrial Average was up more than 400 points at midday, but closed the week down 17 percent.
Efforts to try to prop up the economy and financial markets have had limited success.
The Federal Reserve announced measures Thursday to support money-market funds and the borrowing, as investors increasingly try to build cash reserves to protect against potentially worsening economic conditions.
On Capitol Hill, Senate Democrats and Republicans are working through the weekend to pass a projected $1 trillion spending bill by Monday to further help the economy as quickly as possible.
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