President Donald Trump met with the heads of major banks Wednesday as the coronavirus was declared a pandemic and the Dow Jones Industrial Average closed in a bear market.

Trump met at the White House with the chief executives of Bank of America BAC, -0.55% , Citigroup C, -1.47% , Wells Fargo WFC, +0.08% and other institutions, as the World Health Organization designated the global spread of COVID-19 a pandemic.