It Took Just Two Days to Zap More Than $1 Trillion From Stocks
- S&P 500 sinks more than 3.5% in biggest rout since August
- Spreading coronavirus upends global growth predictions
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Comeuppance has been swift for a market that has occasionally seemed indestructible. In just two days, U.S. stocks have lost more than $1 trillion in value.
Gone is a year-to-date gain in the S&P 500 that only five days ago had swelled to nearly 5%. Where once the Nasdaq Composite Index was heading for its best February in two decades, now it’s barely green for the month. The VIX hasn’t been this high since the Christmas Eve meltdown of 14 months ago.