Virus anxiety triggers biggest 1-day market drop since 2011

Deepening a weeklong rout triggered by growing anxiety that the coronavirus will wreak havoc on the global economy, worldwide markets have plummeted again. The sweeping selloff pushed the benchmark S&P 500 down 4.4 per cent, which is its worst one-day drop since 2011. The Dow Jones Industrial Average tumbled nearly 1,200 points. The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago. That puts the index in what market watchers call a "correction," which some analysts have said was long overdue in this bull market, the longest in history. Stocks are now headed for their worst week since October 2008, during the global financial crisis.