Wall Street ends the week with the strongest gains in a year, with the Dow Jones Industrial Average rising 5.3%, and NASDAQ rising 5%.
Before markets open, the Dow Jones Industrial Average futures posted a 1,300-point drop due to the coronavirus and a fall in the price of oil. The drop would be the most points the Dow has dropped in a single day.
The Wall Street stock market sheds 4.6% of its value, with the Dow Jones Industrial Average dropping a record 1,175 points at close. At one point during the day, the benchmark index loses a record 1,579 points.
Stock markets around the world fall as a result of fears about China's economy with the Dow Jones Industrial Average falling by 1000 points at the opening of trading on Wall Street. The Dow Jones Index closes down 588.40 points, or 3.6 percent.