“Bear markets are ugly,” said Michael Farr, president of investment firm Farr, Miller & Washington. “They’re painful and they all last too long. Sadly, it seems that a new one is just getting started.”
The Washington Post:
Wall Street went into a deep slump Wednesday, falling so far and so fast that the Dow Jones industrial average officially tipped into a bear market, ending a record 11-year stock rally
The bear market reflects a 20 percent fall from record highs, which the Dow hit less than a month ago, and came after the coronavirusofficially became a pandemic.
The Dow Jones industrial average — already deep in the red for the day — tumbled almost 1,500 points after the WHO announcement. It closed at 23,553, a nearly 6 percent decline on the day. The Standard & Poor’s 500 index flirted with bear territory before closing just above the mark at 2,741, a 4.9 percent fall for the session. The Nasdaq Composite tumbled 4.7 percent to 7,952. All three indexes are in negative territory for the year.
Trump’s Stock Market:
