More volatility is expected this week.
The Dow Jones Industrial Average plunged more than 700 points on Wednesday, as investors’ anxiety over the economic ramifications of the coronavirus outbreak continues to impact trading.
The S&P 500 and Nasdaq also opened down 2.5% and 2.3%, respectively.
Trading this week has been characterized by more than 1,000 point swings that may be giving some investors whiplash. Markets bounced back on Tuesday with the the Dow, S&P 500 and Nasdaq all gaining approximately 4.9%. Tuesday’s gains, however, made up for nearly half of Monday’s losses.
Talks of government relief to boost the U.S. economy, which could be deeply impacted by the coronavirus outbreak, sparked some hope for investors earlier in the week, though details and timing of the plans are still shrouded in uncertainty.