U.S. markets closed

US Indexes Fall Wednesday

The Dow Jones Industrial Average closed at 19,898.92 on Wednesday with a loss of 1,338.46 points or -6.30%. The S&P 500 closed at 2,398.10 for a loss of 131.09 points or -5.18%. The Nasdaq Composite closed at 6,989.84 for a loss of 344.94 points or -4.70%. The VIX Volatility Index was higher at 76.45 for a gain of 0.54 points or 0.71%.

Wednesday's market movers

Stock trading was halted Wednesday afternoon due to declines. The S&P 500 ended with a loss of 5.18% and the Dow Jones was down 6.30%. Investors sold stocks as uncertainty continued over the coronavirus' affects. Investors also sold Treasuries in a greater rush for cash. The 10-year Treasury yield ended the day at 1.177% with the price falling -31/32.

The total number of people infected with the coronavirus worldwide passed 200,000. In the U.S., the infection count increased to over 7,000.

Government actions led the day's headlines. The Treasury secretary said the U.S. will waive the payment of taxes, interest and any penalties for 90 days. Congress passed a bill providing some help, including free testing, mandated sick pay for small businesses, more funding for unemployment and more funding for food stamps. A $1 trillion package is still being debated.

In other news:

  • The MBA Mortgage Applications Index decreased 8.4% following an increase of 55.4%. The MBA's average 30-year mortgage rate increased to 3.74% from 3.47%.
  • The Census Bureau released its New Residential Construction report. Building permits decreased 5.5% in February to a seasonally adjusted annual rate of 1.464 million. Housing starts decreased 1.5% to a seasonally adjusted annual rate of 1.599 million.
  • The EIA's Weekly Petroleum Status report showed crude oil inventory up 1.954 million barrels and oil prices reached a new 18-year low.

In the S&P 500, energy and financials led losses. In the Dow Jones Industrial Average, the following stocks led losses:

  • Chevron (NYSE:CVX) -20.84%
  • Boeing (NYSE:BA) -19.39%
  • Travelers (NYSE:TRV) -15.27%
  • American Express (NYSE:AXP) -14.82%
  • United Technologies (NYSE:UTX) -14.48%
  • JPMorgan (JPM ) -11.83%

Small-cap stocks

In small caps, the Russell 2000 closed at 991.16 for a loss of 115.34 points or -10.42% The S&P 600 closed at 600.82 for a loss of 69.24 points or -10.33%. The Dow Jones U.S. Small-Cap Growth Index closed at 6,560.88 for a loss of 677.01 points or -9.35%. The Dow Jones U.S. Small-Cap Value Index closed at 5,219.29 for a loss of 801.58 points or -13.31%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,257.96 for a loss of 145.32 points or -10.36%; the S&P 100 at 1,110.59 for a loss of 48.52 points or -4.19%; the Nasdaq 100 at 7,175.18 for a loss of 298.77 points or -4.00%; the Russell 3000 at 1,366.62 for a loss of 84.79 points or -5.84%; the Russell 1000 at 1,304.56 for a loss of 76.92 points or -5.57%; the Wilshire 5000 at 23,936.37 for a loss of 1,466.57 points or -5.77%; and the Dow Jones U.S. Select Dividend Index at 503.59 for a loss of 36.57 points or -6.77%.

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This article first appeared on GuruFocus.