Dow sinks by 1,300 points despite massive economic stimulus plans

Wall Street remained in the red on Wednesday, continuing a grim week that has seen all three major indices sink despite a series of drastic economic measures intended to address the growing fallout from the coronavirus pandemic.

The Dow Jones Industrial Average opened with a loss of around 1,300 points, or 6 percent, with the S&P 500 and Nasdaq down by around 5 percent each.

The losses come after the White House announced on Tuesday that it is seeking a $1 trillion fiscal stimulus package that would help small businesses...