The Dow Jones Industrial Average had its largest single-day drop in the market's history on Thursday.
The Dow finished the day down nearly 1,193 points. The previous largest one-day drop for the Dow was on Feb. 5, 2018, when the index lost 1,175 points.
The Dow has lost more than 3,500 points since Friday, marking one of the worst weeks for the market in the last calendar year. Three of the five largest single-day drops in Dow Jones history took place this week.
Stocks have been falling amid fears of a worldwide slowdown due to the spread of COVID-19, better known as the coronavirus. Though President Donald Trump said yesterday that he expects the spread of the virus to slow as the weather gets warmer, scientists say that much still needs to be learned about the virus.
Earlier this week, the CDC called the spread of COVID-19 "inevitable," and said Americans need to prepare for "significant changes in their daily lives as a result of the virus."