NEW YORK, March 18 -- Wall Street sank in another volatile session on Wednesday with the Dow falling to a three-year low amid the continued spread of the coronavirus.
The Dow Jones Industrial Average decreased 1,338.46 points, or 6.30 percent, to 19,898.92, marking its first close below 20,000 since February 2017. The 30-stock index cratered more than 2,300 points at session lows.
The S&P 500 fell more than 5 percent to close at 2,398.10, its lowest level since December 2018. The broad index closed nearly 30 percent below a record set last month. The Nasdaq Composite Index pulled back 344.94 points, or 4.70 percent, to 6,989.84.
The major averages wiped out most of the gains since U.S. President Donald Trump's inauguration.
All the 11 primary S&P 500 sectors ended lower, with energy down 14.28 percent, representing the worst-performing group.
The energy sector was under pressure as worries over weaker demand coupled with price-war fears continued to weigh on the oil market.
On Wednesday, the West Texas Intermediate for April delivery decreased 24.4 percent to settle at 20.37 U.S. dollars a barrel on the New York Mercantile Exchange, marking its lowest level since Feb. 20, 2002, according to Dow Jones Market Data.
Brent crude for May delivery was down 13.4 percent, to close at 24.88 dollars a barrel on the London ICE Futures Exchange, with prices ending at their lowest since May 2003.
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