Despite the Fed's vow to pump $1.5 trillion into financial markets to ease pressure, U.S. stocks had a historically bad day Thursday, with the Dow closing down 9.99%, the S&P 500 shedding 9.51%, and the Nasdaq Composite losing 9.43%.
The massive losses represent the single worst day for U.S. stocks since the nightmarish "Black Monday" of 1987 which saw the largest one-day percentage drop in history.
Stocks closed near the day's lows as traders rushed to sell into the closing bell.
? Coronavirus fears have investors panicked about the potential for a significant economic recession.