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· Wall Street plunges to close with biggest one-day loss since March 16

Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve.

The Dow Jones Industrial Average .DJI fell 1,861.82 points, or 6.9%, to 25,128.17, the S&P 500 .SPX lost 188.04 points, or 5.89%, to 3,002.1 and the Nasdaq Composite .IXIC dropped 527.62 points, or 5.27%, to 9,492.73.

Deaths of Americans from COVID-19 could reach 200,000 in September, a grim result of the United States’ economic re-opening before getting growth of new cases down to a controllable level, according to a leading health expert.

At the conclusion of its two-day monetary policy meeting on Wednesday, the U.S. Federal Reserve released its first pandemic-era economic outlook, after which Chair Jerome Powell warned of a “long road” to recovery.

· Dow futures rise 200 points as Wall Street tries to recover from its worst day since March

U.S. stock futures were higher on Thursday night after growing worries of a resurgence in coronavirus cases sent equity prices plunging.

Dow Jones Industrial Average futures traded 221 points higher, or 0.9%. S&P 500 futures gained 0.6% along with Nasdaq-100 futures.

· European stocks close down 4% on gloomy Fed outlook, fears of a second virus wave

European stocks closed sharply lower Thursday as investors digested the latest comments from the U.S. Federal Reserve and fears of a second wave of coronavirus infections.

The pan-European Stoxx 600 closed down by 4% provisionally, with autos plunging 6.9% as all sectors and major bourses tumbled into negative territory.

· Asia Pacific markets drop as South Korea and Australia plunge more than 3%

Stocks in Asia Pacific dropped in Friday morning trade after an overnight plunge on Wall Street amid fears of a second wave resurgence of the coronavirus pandemic.

South Korea’s Kospi led losses among the region’s major markets, plummeting 3.4% in morning trade as shares of automaker Hyundai Motor fell more than 5%. The Kosdaq index also dropped more than 3%.

In Japan, the Nikkei 225 slipped 2.5% while the Topix index fell 2.46%.

Meanwhile, Australia’s S&P/ASX 200 declined 3.32%.

Overall, the MSCI Asia ex-Japan index traded 1.42% lower.

Reference: CNBC, Reuters