U.S. stocks tumbled at open on Thursday, after President Donald Trump announced new plans to limit the fallout from the coronavirus outbreak. The Dow Jones Industrial Average lately slumped 1,696.31 points, or 7.20%, to 21,856.91. The S&P 500 fell 192.33 points, or 7.02%, to 2,549.05. The Nasdaq Composite slid 558.80 points, or 7.03%, to 7,393.25.
Oil futures fell sharply Thursday, sinking after President Donald Trump imposed a ban on travel from Europe to the U.S. in an effort to contain the coronavirus pandemic. West Texas Intermediate crude for April delivery dropped $1.91, or 5.8%, to 31.07 a barrel, while May Brent tumbled $2.02, or 5.6%, to $33.77 a barrel.
In a televised address, Trump said he was planning to suspend travel from certain areas of Europe to the U.S. for the next 30 days. He also announced plans for $50 billion of low interest loans to affected businesses and suggested a delay in the April 15 tax filing deadline.
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