Coming off a day of record-breaking gains, the Dow Jones Industrial Average took a major hit on Tuesday, closing down nearly 800 points amid coronavirus fears.
The Dow dropped despite the Federal Reserve announcing that interest rates would drop by .5 percent, a move generally used to help boost the economy in times of economic downturns.
While the Dow gained nearly 1,300 points on Monday, a one-day record, the Dow has lost nearly 4,000 points in recent weeks. The market has lost nearly 15% of its total value in that time span.
Among the industries to see major losses include travel, pharmaceutical and aviation. Companies such as Boeing, Walt Disney and Walgreens have seen double-figure losses in their stock value.
Oil companies such as Chevron have also seen a large drop in value in recent weeks.
