Worst drop in nearly 3 months | Dow loses 1,800 points | Second-wave fears realized?

It was the worst day for the Dow Jones Industrial Average since March.

VIEW IN BROWSER | SUBSCRIBE THU, JUN 11, 2020 EVENING BRIEF AS OF THU, JUN 11, 2020 • 04:24 ET DJIA 25128.17 -6.90% -1861.82 S&P 500 3002.10 -5.89% -188.04 NASDAQ 9492.73 -5.27% -527.62   Most Active DOW NAME LAST CHG %CHG BA 170.00 -33.41 -16.43% PFE 33.30 -2.62 -7.29% MSFT 186.27 -10.57 -5.37% S&P 500 NAME LAST CHG %CHG BAC 23.93 -2.67 -10.04% GE 6.95 -0.66 -8.67% AAL 14.38 -2.64 -15.51% NASDAQ NAME LAST CHG %CHG AAL 14.38 -2.64 -15.51% UAL 33.32 -6.40 -16.11% AMD 52.83 -4.61 -8.03% EDITOR'S NOTE For those on the sidelines wondering if the stock market had jumped ahead of economic reality, Thursday was their day.   The Dow Jones Industrial Average and the S&P 500 dropped the most since the terrifying beginnings of the coronavirus shutdowns in March.   Clearly, the public health crisis isn't over. Covid-19 cases are rising as the economy reopens, sparking fears of a second wave of infections. Yes, the economy has been improving, but from a very low base with tens of millions of people out of work. Federal Reserve Chairman Jerome Powell highlighted this inconvenient truth on Wednesday in a speech many described as gloomy.   Of course, one scary day doesn't necessarily mark a trend, and some of the market's losses could simply be attributed to profit-taking after an amazing run-up that brought the Nasdaq Composite to all-time highs on Wednesday.   "The headlines about a potential second wave are the main cause but we were due anyway for a pullback," said Tom Essaye, founder of the Sevens Report. "Stocks can't go up forever."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks suffer their worst day since March, with the Dow plunging more than 1,800 points Treasury Secretary Mnuchin says 'we can't shut down the economy again' This sell-off could be the start of a bigger decline, says long-time market strategist Sam Stovall Top stocks on Robinhood brokerage get crushed as market violently reverses Oil drops more than 8% as fears over second wave of coronavirus cases hit the market Track the latest coronavirus news here Mortgage rates set new record low, falling below 3% as concerns rise about coronavirus second wave A full recap of the big stock market rout Total U.S. debt surges to $55.9 trillion amid big increases in corporate and government borrowing Cramer on stock market plunge: There's been a 'happiness trade' out of sync with 'everything'     TOP VIDEO Treasury Secretary Steven Mnuchin on PPP, commercial rent, future stimulus   CNBC PRO Mike Santoli's market notes: What's behind the rout and how long could it last?   SPECIAL REPORTS Stocks plunge as coronavirus cases spike after some states reopen—Here's what five experts say investors should know Fed leaves rates near zero, issues gloomy outlook — what to watch now   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS