The Dow Jones Industrial Average dropped nearly 800 points immediately upon opening Wednesday, a day after the White House painted a grim picture of what's to come in the COVID-19 pandemic.

The losses come a day after the Dow closed its worst first quarter of all-time on Wednesday — the worst single quarter since the 2008 financial crisis. The Dow dropped about 400 points on Tuesday.

The Dow actually finished in the green between March 23 and 27 on the back of the passage of a $2 trillion stimulus bill by Congress and President Donald Trump's desire to end social distancing requirements by Easter — the first time it had finished with a weekly gain in nearly a month.

But with oil prices plummeting and signals from the White House that social distancing could be extended for the forseeable future, markets may take another dip in the days to come.

The Dow has lost nearly 8,000 points since February.