Wall Street indexes ended the stock exchange session on Wednesday in red, reaching a new low in the context of the coronavirus crisis, as investors continue to worry about the economic impact of the pandemic.

The blue-chip index Dow Jones Industrial Average collapsed by 1,333 points, or 6.3%, to 19,898.92 points. Earlier, it recorded a decline of 2,300 points. This year Dow Jones is down 30.27% on pace for its worst year since 2008 when the Dow lost 33.84%. The index ended below 20,000 points for the first time since January 2017.

The broader S&P 500 also went into the red, wiping out 5.2% of its value and ended the day with almost 30% down from the record it set last month. The broader index plunged below 2,351 points, its lowest closing level on the 2018 Christmas market.

The technology index Nasdaq Composite declined by 4.7%.

No market is immune to a wave of sales as oil prices go through their third-worst collapse in history.

In the final minutes of US trade, the Senate votes on a plan for coronavirus relief.

Reiterating concerns about the economic impact of Covid-19, billionaire investor Bill Ackman said that the best means of dealing with market problems and the epidemic in the US is President Donald Trump to “shut down” the country.

Trading was halted today 15 minutes after the Dow Jones Industrial Average and the S&P 500 fell by 7% each. This is the fourth time this week has taken a break.

However, the details of the potential package of fiscal stimulus have not proved sufficient to stem the pressure on the market.

The number of confirmed cases of coronavirus in the United States has jumped to over 6,400, according to data from Johns Hopkins University, and the death toll is now over 100. Wall Street is experiencing unprecedented turmoil over the Covid-19 crisis, and the S&P 500 is experiencing upward or downward movements of 4% or more for a record eighth mediocre session. The previous record was for six days – in November 1929, according to LPL Financial.

There was a strong turnaround in the bond markets after information that a stimulus package of 1 trillion USD could be released, which eased investor tensions.

The yield on 10-year US Treasury securities rose to 1.21%.

Corporate stocks performance

Walgreens Boots Alliance closed up 6.5%, Cisco Systems rose 5.2%, Walmart jumped 2.8% and 3M popped 1.9%. Pfizer and Verizon both ended the day up less than 1%.

Automakers were in the spotlight. General Motors (-17.32%), Ford Motor (-10.18%), and Fiat Chrysler Automobiles NV (-9.19%) shares ended sharply lower amid plans to quickly close all US auto factories.

Shares of aircraft maker Boeing plunged 17.92% toward a seven-year low as expectations for a bailout of the aerospace giant failed to offset the potential liquidity issues and worries around how the coronavirus could diminish demand for air travel.

Shares of ConocoPhillips fell by 13.63% after the oil giant said it would cut capital spending for 2020 by 10%, and slow share buybacks.

Home Depot stocks fell by 10.37% after it announced it would close at 6 p.m starting Thursday, though opening hours would stay the same.

Starbucks wiped out 4.49% after it said that would authorize a repurchase of 40 million shares, with its store in China now 90% open.

The major technology stocks, known as FAANG (Facebook, Amazon, Apples, Netflix and Google), finished without single direction, but mostly into the red. Apple, Alphabet Inc, Netflix and Facebook ended the session with declines, between 1.5% and 2.5%, while Amazon added 1.23%.

Oil giants are under pressure from continuously declining oil prices, which collapsed to an 18-year low. The shares of ExxonMobil wiped out 10%, while Chevron Corporation is down by 22.12% and Occidental Petroleum declined by 7.14%.

The free fall in airlines stocks continue. The shares of United Airlines wiped out more than 30% today, while American Airlines is down by 25%. Delta Air Lines, JetBlue and Alaska Airlines fell by 25.99%, 19.54% and 22.75%, respectively.

The situation with cruise companies is similar. Royal Caribbean Cruises, Norwegian Cruise Line and Carnival Corporation wiped out 19.27, 22.53% and 26.83% of their market capitalization, respectively.