The Dow plunged a jaw-dropping 3,500 points this week

Ongoing anxiety about the novel coronavirus just resulted in Wall Street's worst week since the financial crisis.
The Dow Jones Industrial Average plunged 3,583 points this week, sliding 12.4 percent for the biggest percentage drop in a week since 2008, CNN reports. Additionally, the S&P 500 had its worst week since 2008, plunging 11.5 percent. As with the Dow, that's the biggest percentage drop for the S&P 500 in a week since October 2008.
The Dow's 3,500 point drop, CNBC notes, is "far and away its largest weekly point loss ever." On Thursday, the Dow plunged 1,190 points, the biggest one-day point drop in history.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
On Friday, Federal Reserve Chair Jerome Powell in a statement said the "fundamentals of the U.S. economy remain strong" but that "the coronavirus poses evolving risks to economic activity," and the Federal Reserve "will use our tools and act as appropriate to support the economy." White House National Economic Council Director Larry Kudlow told Fox Business on Friday "our economy is holding up very well," during a segment in which a graphic directly next to him showed the Dow continuing its slide.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Store closings could accelerate throughout 2025
Under the Radar Major brands like Macy's and Walgreens are continuing to shutter stores
By Justin Klawans, The Week US Published
-
Crossword: February 20, 2025
The Week's daily crossword
By The Week Staff Published
-
Sudoku hard: February 20, 2025
The Week's daily hard sudoku puzzle
By The Week Staff Published
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US Published
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published