The coronavirus pandemic has pushed the Dow to a level below where the 30-stock index closed on the day that President Donald Trump was elected in office, essentially losing everything it gained in the last three years since November 8, 2016.
The sell-off is part of the historical financial meltdown that has seen the Dow plummet by more than 40% in the last month alone. Dow Industrials fell 841.24 points, or 4.39%, to trade below its close on Election Day 2016 at 18,332.74. In last week alone, the 30-stock index has lost more than 38% from its all-time high since February.
Similarly, Friday’s closing has seen the S&P 500 below February’s highest by 30%.
President Donald Trump has since been vocal about calling the gain of US futures and indices as part of his achievements as the president. However, the gains have all been wiped up as investors fears the intensifying coronavirus pandemic.
The White House refuses to comment on Monday’s sell-off that has practically reversed all the gains Trump has boasted in the last three years of his administration.