United States

Dow drops more than 700 points as Wall Street awaits coronavirus response

US stocks plunged again Wednesday as Wall Street waited for the Trump administration to detail exactly how it plans to address the coronavirus’s economic impact. The Dow Jones industrial average sank as much as 762.6 points, or 3 percent, in early trading a day after hopes for a fiscal stimulus caused stocks to surge. The blue-chip index gained more than 1,100 points Tuesday. The S&P 500 dropped as much as about 2.9 percent after the opening bell while the Nasdaq composite lost as much as 2.6 percent. The two indices each jumped 4.9 percent Tuesday in a wild day of trading. President Trump promised a “very dramatic” fiscal stimulus package on Monday to stanch the economic bleeding caused by the coronavirus outbreak. But he fail ...