The Dow Jones Industrial Average dropped over 800 points after the opening bell. The S&P was trading over three percent lower, while the Nasdaq Composite is down over two percent.
The markets are digesting dire warnings from the White House that deaths from Covid-19 over the next two weeks are projected to reach between 100,000 and 240,000, with coronavirus fatalities peaking over this period.
“This could be a hell of a bad two weeks. This is going to be a very bad two, and maybe three weeks. This is going to be three weeks like we’ve never seen before,” Trump said on Tuesday.
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