Wall Street had another dismal day Wednesday with U.S. President Donald Trump warning of a “bad two weeks” ahead in the coronavirus pandemic.
The Dow Jones industrial average, the S&P 500 and the Nasdaq Composite Index were all down 4%.
Major indexes in London, Frankfurt and Paris were also 4% lower, following losses in Asian markets.
Markets fell after Trump said Tuesday that the U.S. could expect a “hell of a bad two weeks” in the coronavirus outbreak.
Even if all federal and state mitigation efforts are followed, the White House said, as many as 240,000 Americans could die from the disease.
While experts say no one can predict if or when U.S. stocks will hit bottom, they are advising investors to keep their eyes on long-term goals, be active and look for bargains that will help them reach those goals.
Trump has said that once the outbreak has peaked and the country starts to reopen for business, the U.S. economy will “skyrocket.”