Dow officially enters bear market
The key metric fell 329.60 points on Monday.
The Dow Jones Industrial Average officially entered bear market territory on Monday, following a precipitous drop.
The key metric fell 329.60 points on Monday, marking a 1.11% decline, placing the index in bear market territory, per MarketWatch. A bear market is traditionally defined as a 20% decline from a recent high.
On Friday, the Dow Jones plunged below 30,000, effectively erasing all of the stock market's gains since President Joe Biden took office.
The S&P 500 also reached a low point for the year 2022, dropping 1.03% to 3,655.04, while the third major index, the Nasdaq Composite, dropped 0.6% to 10,802.92.
A major index officially plunging into a bear market adds pressure on the Biden administration, which has sought to redefine the formal definition of an economic recession following consecutive quarters of economic decline, the traditional benchmark.
The Facts Inside Our Reporter's Notebook
Links
Top Stories
Political Ethics
From the States
Federal Agencies
State Houses
Just the News Spotlight
Just News, No Noise
From the States
From the States
Congress
State Houses
Science
