The Dow Jones Industrial Average lost more than 1,400 points today, entering bear market territory amid the coronavirus pandemic.
The stock market has continued to be volatile in recent weeks over growing fears that the spread of coronavirus will push the world economy into recession.Timothy A. Clary/AFP via Getty Images
The stock market has continued to be volatile in recent weeks over growing fears that the spread of coronavirus will push the world economy into recession.Major stock indexes plunged again on Wednesday, and the Dow Jones Industrial Average was down more than 20% from its peak in February. The meant that the blue chip index entered bear market territory, ending its 11-year winning streak.
The blue chip index fell 1,464 points, or nearly 5.9%. The S&P 500 slid 4.9% and the Nasdaq lost 4.7% — and put those indexes down 19.2% from their peaks.2008 amid fears that the growing spread of coronavirus would push the global economy into recession. Early Wednesday afternoon, the World Health Organization declared that the disease COVID-19, caused by coronavirus, is. As of Tuesday, the WHO was reporting about 120,000 cases in 114 countries on six continents.
President Trump told reporters at the White House that he will be making a statement about coronavirus Wednesday night. He made the comments as he met with the chief executives of major banks.
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