Coronavirus: TSX, Wall Street drop at the open despite stimulus news

North American stock markets dropped again at the open on Wednesday despite extraordinary government efforts to stem the spread of the novel coronavirus and blunt the effect of business closures amid the health emergency.

The Dow Jones Industrial Average fell 1,048.69 points, or 4.94 per cent, at the open to 20,188.69, while the S&P 500 opened lower by 92.69 points, or 3.66 per cent, at 2,436.50. The Nasdaq Composite dropped 432.47 points, or 5.90 per cent, to 6,902.32 at the opening bell.

In Toronto, the benchmark S&P/TSX composite index was down 516 points to 12,168 at 9:50 a.m. ET.

The Canadian dollar fell below the 70-cents US mark, dropping to 69.15 cents US.

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