Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.

The Dow Jones Industrial Average closed 2,352.60 points lower, or 9.99%, at 21,200.62. The index had its worst drop since the 1987 �Black Monday� market crash, when it collapsed by more than 22%.The S&P 500 plummeted 9.5% to 2,480.64, joining the Dow in a bear market. The S&P 500 also had its worst day since 1987. The Nasdaq Composite closed 9.4% lower at 7,201.80.

�The coronavirus is scary and people don�t know what to expect,� said Kathy Entwistle, senior vice president of wealth management at UBS. �It�s like the tsunami is coming. We know it�s going to hit any day and nobody knows what the outcome is going to be.�

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