A public finance watchdog said Illinois taxpayers could face greater pension pressure with the stock market in decline because of the state’s underfunded public employee pensions.

The stock market has lost around 20 percent of its peak value in the past few weeks with significant daily drops ranging from 5 to 7 percent. The Dow lost 1,464 points, or 5.86 percent of its value on Wednesday. That’s after Monday’s loss of more than 7 percent. On Feb. 12, the Dow peaked at 29,551. It closed Wednesday at 23,553. The losses come amid concerns about the economy amid a global coronavirus pandemic.