Shares in India and Thailand crash more than 10 percent, triggering temporary halts to trading.
“We’re starting to get a sense of how dire the impact on the economy is going to be. Each day the news doesn’t get better, it gets worse. It’s now hit Main Street to a more significant degree,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.
The Dow officially went into a bear market on Wednesday, when it finished the day down more than 20% from its all-time high. For the S&P 500, this is the fastest drop since World War II from a record high to a bear market. After earlier thinking that the virus could remain mostly in China and that any dip in the economy would be followed by a quick rebound, investors are seeing the damage and disruptions mount.
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