Stock values in the United States tumbled again on Monday despite a Federal Reserve decision to cut interest rates and allay investor fears over a coronavirus pandemic that has claimed almost 7,000 lives globally.  

The Dow Jones stock market index fell by almost 3,000 points — representing a 12.9 percent drop and the worst single day of losses the U.S. economy has seen since 1987 in a worrying sign of a nearing recession. 

The markets fell despite moves by the Federal Reserve on Sunday to cut interest rates and keep the economy liquid by announcing a big fiscal

Read more: US: Dow tumbles amid coronavirus selling panic