US stocks dropped sharply in the first three months of the year as worries about the global coronavirus pandemic and its impact on businesses and the economy grew.
- The Dow recorded its worst start to a year in history, down 23.2% for the quarter.
- The S&P 500, meanwhile, logged its worst quarter since the final three months of 2008, down 20%.
- The Nasdaq Composite’s downturn was more contained. The tech-heavy index recorded its worst quarter since the final months of 2018, falling 14.2%.
On a daily basis, the final day of the quarter also ended with all three indexes in the red.
- The Dow closed 410 points, or 1.8%, lower, and was down 13.7% for the month.
- The S&P ended down 1.6%. It fell 12.5% in March.
It was the worst month since October 2008 for both indexes.
- The Nasdaq closed down nearly 1%, for a 10.1% monthly loss. It was its worst month since November 2008.