How far do stocks have to fall to enter a bear market as coronavirus-fueled selloff continues?
Should investors beware of bears?
U.S. stocks entered a market correction — defined as a 10% drop from a recent peak — on Thursday as fears around the global spread of COVID-19 rocked financial markets. For the S&P 500 (SPX), the drop into a correction from an all-time high in just six trading days earlier was the fastest on record, according to Dow Jones Market Data.
Equities opened sharply lower on Friday, with the Dow Jones Industrial Average (DJIA) dropping more than 1,000 points at its session low, before trimming losses. The Dow remained down 296 points, or 1.1%, at 25,470, while the S&P 500 was off 0.8% at 2,956. The Nasdaq Composite (COMP) turned positive, up 0.2% at 8,583.
The S&P 500 would need to close at or below 2,708.92 to enter a bear market, according to Dow Jones Market Data, while the Dow would need to end at or below 23,641.14. The bear-market threshold for the Nasdaq rests at 7,853.74.
-more-
https://www.msn.com/en-us/money/markets/how-far-do-stocks-have-to-fall-to-enter-a-bear-market-as-coronavirus-fueled-selloff-continues/ar-BB10wvfy?li=BBnbfcN&ocid=hplocalnews
Dow is at 24,770, down 996.27. Another day like today and we're in a bear market.
