The Dow dropped more than 200 points Wednesday, ending its two-day winning streak

The Dow Jones Industrial Average on Wednesday dropped 218.45 points, marking its first decline in three days. The S&P 500 lost 0.7 percent while the Nasdaq gained 0.7 percent.

While some states are starting to move toward reopening and loosening government restrictions, the U.S. has sustained significant economic damage during the coronavirus crisis.

California is expected to enter phase two of its reopening process as soon as Friday, which will allow some retail stores to conduct curbside pickup services.

But even as the nation's economy crawls back to life, more than 30 million people have already filed for unemployment during a 6 week period.

And ADP on Wednesday reported that private payrolls fell by more than 20 million in April, but noted the damage may actually be even worse as the report does not show the total impact of the pandemic. 

"Private sector employment decreased by 20,236,000 jobs from March to April according to the April ADP National Employment Report. The report utilizes data through the 12th of the month," ADP noted. "As such, the April NER does not reflect the full impact of COVID-19 on the overall employment situation."