In the early months of 2020, the US stock market was reaching all-time highs in possibly the greatest bull market ever. On February 12, the Dow Jones Industrial Average closed at roughly 29,500 points, and it looked like the market’s growth was not stopping anytime soon. 

For the next few weeks as COVID-19 began to touch down in the US, the market experienced minor drops, but nothing out of the ordinary. Once it became apparent that COVID-19 posed a true threat to the American economy, stocks began to plummet. On March 9, the Dow experienced its worst (at that point in time) drop in the U.S. Stock Market’s history, falling 2,013.76 points. This was followed by a 2,352.60 point drop on March 12th and then another record fall March 16, during which the Dow closed at 20,188.52 points. 

The market fell over 9,000 points in less than a month due to fears of the virus which have now left most businesses with no other option than to shut down temporarily. Multiple states including Florida have forced businesses like bars and other non-essential type establishments to close until further notice. Some companies that have stayed open, like Amazon, have made efforts to hire more temporary employees, but their efforts could not overpower the impact of the economic shut down. 

The spiraling of the economy has forced the government to step in as Congress is currently working on a bill to aid businesses across the country. Some industries like the airlines industry have already been aided by the government. Such efforts by the government have already had a positive impact on the stock market as the Dow has steadily risen 3,264.88 points in the past week.

COVID-19 has proven to us that it is unpredictable, and it could take a turn in any direction at any time. The recent progress of the American economy seems promising, but this progress will likely be erased if Americans do not follow the guidelines given by the government.

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