Dow enters bear market after coronavirus declared pandemic
Source: 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 coronavirus officially became a pandemic. The World Health Organization’s declaration Wednesday signaled that health experts believe efforts should shift from trying to contain the virus to mitigation.
The Dow Jones industrial average — already deep in the red for the day — tumbled almost 1,500 points, after the WHO announcement.
“Bear markets are ugly,” said Michael Farr, president of Farr, Miller and Washington. “They’re painful and they all last too long. Sadly, it seems that a new one is just getting started.”
Read more: https://www.washingtonpost.com/business/2020/03/11/markets-economy-today-oil-coronavirus/
What Obama bringeth, 45 takes away.
= new reply since forum marked as read
we have long lines and empty store shelves, canceled events, people afraid to go out, crashing stock markets,
Damn Democrats!
