Stock markets opened to volatile swings on Tuesday, making up a little lost ground after a huge day of losses on Monday due to the coronavirus pandemic that has brought fears of a global recession.
In the first minutes of trading, the Dow Jones Industrial Average was up 500 points, about 2 percent, while the S&P 500 increased 54 points, also about 2 percent.
But the gains were erased with minutes, as wild swings in share prices took the Dow Jones negative and left the S&P 500 flat. The Dow, which just last month was approaching 30,000, briefly dipped below 20,000 amid the volatility.
The swings follow the third-worst day for stock markets on record, as volatile markets anticipated major economic distress. The Dow lost 2,997 points, or 12.9 percent, on Monday.
As of Tuesday morning at least 4,482 people in the United States have been diagnosed with the virus, and 86 people have died, according to The New York Times.
Updated at 10:17 a.m.
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