U.S. Stocks Plunge 12% in Biggest Rout Since 1987: Markets Wrap

S&P 500 wipes out 2019 gain, Dow average loses 3,000 points
Trump warns that virus may disrupt life into July, August

Strategist Ian Harnett Sees 'Multiphase Downleg' Ahead for StocksSource: Bloomberg)

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By Jeremy Herron and Vildana Hajric

March 15, 2020 at 8:33 PM UTC

Updated on

March 16, 2020 at 9:37 PM UTC

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The stomach-turning ride on global financial markets took a dramatic turn Monday, with U.S. stocks plunging the most since 1987 after President Donald Trump warned the economic disruption from the virus could last into summer.