The stock market took another beating on Wednesday, thanks in large part to the coronavirus pandemic.

The Dow Industrials fell more than 6% to close below 20,000 — wiping out all its gains since February 2017, less than a month after Donald Trump’s inauguration as president.

The S&P 500 and the Nasdaq also dropped sharply.

At one point the S&P 500 fell by nearly 10%, triggering yet another market-wide trading halt, but gained back some of its losses by the end of the trading session.

The election-year plunge “underscores the risk Trump took in tying his presidential reputation to stock prices, which can fall as easily as they rise, and in any case are only one indicator of the health of the economy,” says Politico.

Wall Street prices have been volatile for weeks as the virus has spread rapidly across the globe, and in recent days they’ve been up and down like a yo-yo. But the indexes always seem to end up lower than where they began.

Wednesday was the eighth straight day of 1,000-point swings for the Dow, “which many considered near impossible,” reports the Washington Post.

On Wednesday, the Post says, “Nearly every asset class — stocks, bonds, gold, oil — came under siege as investors fled to the safety of cash. The weeks-long panic has hollowed out a big chunk of the stock gains from the bull market and erased virtually all of the equity advances under the Trump presidency.”

What’s causing such extremes?

“People are panicked,” Nancy Tengler of Tengler Wealth Management told the Post.

“If there’s too much stimulus, then the market take is things must be really bad. And if there’s not enough, then there’s no leadership,” she said. “People are worst-case-scenario-ing it.”