Thread: Dow's 1,400-point slide pushes blue-chip index into bear-market territory in intraday

Dow's 1,400-point slide pushes blue-chip index into bear-market territory in intraday trade Wednesday

The Dow Jones Industrial Average Wednesday afternoon fell below a threshold that would put it in bear-market territory if it closes there, threatening to end the longest bull-market in history. The Dow was down 1,400 points, or 5.5%, at 23,627, below the level at 23,641.14 that would mark a 20% drop, meeting the widely accepted criteria for a bear market. On March 9, the Dow marked its 11th year in a bull-market uptrend, the longest such streak in history. MarketWatch considers an asset to be in a bear-market only when it closes at least 20% below its recent peak. The S&P 500 needs to close at or below 2,708.92 to fall into a bear market, while the Nasdaq Composite Index needs to hit 7,853.74. A decline all for stocks on Wednesday deepened after the World Health Organization declared the outbreak of COVID-19, which was first identified in Wuhan, China in December, a pandemic. The disease has infected more than 121,000 people and claimed more than 4,300 lives world-wide.

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