The Dow Jones Industrial Average dropped 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the U.S.
The S&P 500 dropped 3.5%, its third straight loss. The benchmark index has now given up 5.6% so far this week and is on track for its biggest weekly fall since March, when markets were in a downward spiral. Crude oil prices fell sharply as investors anticipated that demand for energy will weaken along with the economy.
Treasury yields fell as investors sought shelter in safer assets.