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Global Stocks Plunge on Fears of COVID-19 Second Wave

Written: 2020-06-12 08:38:36Updated: 2020-06-12 10:11:52

Global Stocks Plunge on Fears of COVID-19 Second Wave

Photo : YONHAP News

Global stocks tumbled on Thursday amid fears of a resurgence of the COVID-19 pandemic. 

In the United States, the Dow Jones Industrial Average ended the day at 25-thousand-128, down one-thousand-862 points, or six-point-nine percent. It’s the worst decline since March 16 when it plummeted about 13 percent. 

The S&P 500 also fell five-point-nine percent, while the Nasdaq slipped over five percent to fall below the ten-thousand mark.

The sharp selling was mainly driven by fears of a potential second wave of the pandemic that has already wrecked the economy. Several U.S. states that opened weeks ago are now reporting a rise in infections.  

Over in Europe, the FTSE 100, the leading index of the London Stock Exchange, dropped about four percent. The Stoxx Europe 50 Index also slumped four-point-five percent.

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