U.S. stocks recovered some on Tuesday after a steep decline the day before. The Dow Jones Industrial Average sank 7.8 percent on Monday in its steepest drop since the financial crisis of 2008. President Donald Trump said he would ask Congress to pass payroll tax relief to help calm the economy. The Securities and Exchange Commission, which oversees U.S. financial markets, asked employees to work remotely for the foreseeable future after an employee at the agency’s Washington headquarters came down with respiratory symptoms on Monday.

Trading on Wall Street came to a temporary standstill on Monday morning for the first time since the 2016 U.S. presidential election. Global stocks had plunged by more than the daily limit of 5 percent alongside the worst percentage drop in oil prices since the start of the Gulf War in 1991. Stock prices continued to fall when trading resumed later in the morning.

After rebounding on Wednesday, the U.S. stock market started to slide again on Thursday. Wednesday’s bounce back after Vice President Joe Biden’s resurgence in the Democratic Party’s Super Tuesday contests revealed Wall Street’s worries about Sen. Bernie Sanders, I-Vt., who has pledged to regulate banks and eliminate private health insurance. Many consider Biden more business-friendly.

The Dow Jones Industrial Average had its largest single-day drop in history on Thursday. Fears about the effect of the coronavirus outbreak on businesses have pulled the rug out from under global markets, which were performing better than ever before the disease began to spread. The S&P 500 index is down 12 percent from its all-time high a week ago, and stock markets in China, India, Japan, and South Korea are falling, as well.

Oil prices eased back down on Tuesday as Saudi Arabia worked to restore one of its major processing plants. Global prices spiked Monday by 15 percent after armed drones targeted key oil facilities in the kingdom over the weekend. The attack halted more than half of the country’s daily exports, but Saudi Arabia and the United States have said they could release oil from their reserves as needed to manage prices. Oil prices had fallen by about 5 percent on Tuesday morning.

The U.S. stock market had its worst day of the year Wednesday, with the Dow Jones Industrial average dropping a whopping 800 points. The yield on Treasury bonds also fell, signaling that investors are buying up bonds because they think stocks will continue to decrease in value.

The United States will put off planned tariff hikes on Chinese goods until Dec. 15, easing the potential effect of the increase on holiday shoppers. A 10 percent tax is planned for nearly all Chinese imports, including iPhones, shoes, and toys, after that. Stocks on Wall Street rallied Tuesday morning after the news.