U.S. markets closed sharply down again with the Dow Jones industrial average falling 1,300 points Wednesday, off 20% from highs set a month ago, the first such drop since the 2008 financial crisis.  

With the Dow down more than 5.8%, officially closing in bear market territory, the S&P 500 shed nearly 4.9% and the Nasdaq dipped 4.7%. The losses put the S&P 500 on the precipice of also falling into bear market territory.

A bear market begins when an index closes 20% down from a recent high.

Investors are worried about the possibility that the spread of the coronavirus

Read more: Dow closes in bear territory, first since 2008 crisis