Stocks Plunged at Open as Coronavirus Volatility Continued

Stocks opened sharply lower on Wednesday, as investors continue to weigh the impact of the COVID-19 pandemic and the government response. The Dow Jones Industrial Average lately plunged 1,065.28 points, or 5.02%, to 20,172.10. The S&P500 fell 120.88 points, or 4.78%, to 2,408.31. The Nasdaq Composite lost 296.28 points, or 4.04%, to 7,038.50.

Oil futures extended their plunge Wednesday as countries continued to lock down to slow the spread of COVID-19, while Saudi Arabia and Russia remain on track to flood the world with crude in a global price war. West Texas Intermediate crude for April delivery fell $1.68, or 6.2%, to $25.27 a barrel. May Brent crude dropped $1.07, or 3.8%, at $27.66 a barrel.

The coronavirus pandemic continues to keep investors on edge, with worldwide cases of the coronavirus soaring above 200,000, which forced governments around the world to consider imposing stricter measures to prevent further spreading.