As COVID-19 continues to spread throughout the United States, the almost complete closure of businesses has caused the Dow Jones Industrial Average (DJIA) to experience its single greatest point loss in history. Other companies in categories such as airliners and restaurant chains suffered heavily, losing years’ worth of gains in a matter of hours.

The DJIA got the worst hit during all of this on Wall Street. On Monday, the 16th of March, the DJIA lost nearly 3000 points, losing about 13% of its worth from when the market day started.  This is due to coronavirus fears, as people are selling their shares of the DJIA, causing its price to drop and causing it to lose value and points exponentially. This most recent drop actually beat the record set by the drop several days before. The latter drop lead the DJIA to lose 2353 point on the stock market.

There was some hope at the end of March, when a 2 trillion dollar stimulus plan was being proposed on the 24th. Later, the bill was passed by Congress and signed into law. The DJIA actually had its greatest point gain in history, gaining 2112.98 points and gaining 11.37% in market value.

The mainstream economy is struggling heavily with the effects of the novel virus as well. With more and more people staying home instead of flying on airplanes, shopping at chain stores and eating out, many commercial companies have been taking losses. American Airlines lost 11.73% of its value on April 1st, while other airlines such as Jet Blue and Mesa Air lost 10.17% and 8.51% respectively. Even expensive designer brands such as Christian Dior are facing their own issues. Dior more recently lost 314.20 euros of its stock value. Ross lost $82.52 of its stock value recently,as it peaked then plummeted in points on March 31st.

“The stock market is like a roller coaster as of now. An investment can gain 12% or lose 12% at any given moment. It may seem scary for those who have heavy investments in it,” freshmen Bryan Guillen said.

The coronavirus has led to the most volatile stock market we have seen in a decade. Investors are frantic, buying and selling in hopes of making up for their losses.

One final aspect hurt by this virus that is not always looked upon by investors is small businesses. These small businesses have become the backbone of America. However, many may go out of business because of an inability to pay rent or salary. The big corporations such will survive this while smaller, less invested in businesses are actually the ones who are the most in jeopardy.

“I am no sure how [small businesses] are going to make it. I have a bad feeling that many businesses are going to suffer heavily, some to the point of complete closure,” sophomore Diego Moran said.

However, there is hope. You can still support local businesses, even while social distancing. For example, take out or order from your favorite restaurants or stores. If enough people take part in this, people and businesses will get through this together.