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Stock market news live updates: Dow drops 1,400 points, ending in bear market

davfordavfor
in Off-Topic
This is just being posted to note what happened today:
The Dow shed more than 1,400 points during the session, sending it more than 20% below its recent high from February and into a bear market.

Midday Wednesday, the World Health Organization officially designated the coronavirus outbreak a pandemic, as the virus spread across more than 100 countries and infected well over 100,000 individuals. The Dow sank more than 1,200 points following the announcement.

Stocks’ afternoon leg lower extended declines from earlier in the regular and overnight sessions.

Comments

  • MarkMark
    I honestly can't say that we weren't warned no one saw this coming. I also think that it's not over yet.
  • Simon
    The S&P is still above the weekly MA200 and the DOW is right on it. The Nasdaq is 1000 points above. All three 200MAs are still pointing higher. It's nowhere near a bear market yet.

    Marketwatch and Yahoo (and all of them) sell fear. It's all clickbait and nonsense.
  • davfordavfor
    @Simon It depends on how you look at it. It was a significant (historic) event for that indicator of stock market health. Time will tell if other indicators follow suit or not.
  • WABACWABAC
    Simon said:

    The S&P is still above the weekly MA200 and the DOW is right on it. The Nasdaq is 1000 points above. All three 200MAs are still pointing higher. It's nowhere near a bear market yet

    Are these the new metrics for defining a bear market?

    Asking for a friend.
  • johnNjohnN
    edited March 2020
    Could be worst week in wallstreet since 2008/2009...very downward bumpy ride...
  • Simon
    edited March 2020
    WABAC said:

    Simon said:

    The S&P is still above the weekly MA200 and the DOW is right on it. The Nasdaq is 1000 points above. All three 200MAs are still pointing higher. It's nowhere near a bear market yet

    Are these the new metrics for defining a bear market?

    Asking for a friend.
    Technically, it's not a bear market. A bear market is usually defined when an index declines 20% or more over a sustained period of time - typically two months or more.

    From a charting perspective all 3 indexes are above the 200 week moving average, which does not align with bear market conditions.
  • Derf
    200 week moving average ?!
    Derf
  • Old_JoeOld_Joe
    He probably meant 200 day MA.
  • Simon
    Old_Joe said:

    He probably meant 200 day MA.

    No - I meant 200 WEEK MA.

    Obviously a lot of you guys don't know how to read charts. I've been studying charts 5 hours a day for 40 years.
  • Derf
    @Simon: First I've heard of 200 week sma . Upon googling I did find some reference . Closest I could get was from 1950 to 2010. Could or would you furnish a more updated chart or graph.
    Always ready to learn something new, Derff
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