A bear market begins. The Dow Jones Industrial Average closed more than 20% below its February high, felled by fears of coronavirus.
U.S. stocks dropped sharply Wednesday as investors anxious about the economic fallout from the coronavirus pandemic endured another day of tumultuous trading.
The Dow Jones Industrial Average tumbled 1,465 points, or 5.9%, to 23553. That put it in a bear market—a decline of at least 20% from its recent high, set Feb. 12. The index needed to close below 23641.136 to end the current bull market, an extraordinary run of stock gains that began in 2009.
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