The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.
The S&P 500 has now plunged 12% from the all-time high it set just a week ago. That puts the index in what market watchers call a “correction,” which analysts have said was long overdue in this bull market, which is the longest in history.
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