Stocks Ended Lower, Dow Dropped over 440 Points

U.S. stocks ended sharply lower on Wednesday, after new economic data showed U.S. retail sales and manufacturing activity each declined by massive margins in March amid the coronavirus pandemic. The Dow Jones Industrial Average dropped 445.41 points, or 1.86%, to 23,504.35. The S&P 500 fell 62.70 points, or 2.20%, to 2,783.36. The Nasdaq Composite lost 122.56 points, or 1.44%, to 8,393.18.

U.S. benchmark oil futures settled at their lowest since early 2002 on Wednesday on the back of a grim forecast for a record decline in global oil demand this year and a 12th consecutive weekly rise in U.S. crude stockpiles. West Texas Intermediate crude for May delivery declined by 24 cents, or 1.2%, to settle at $19.87 a barrel. June Brent crude settled down $1.91, or nearly 6.6%, to $27.69 a barrel.