- Click to share on Facebook (Opens in a new window)
- Click to share on Twitter (Opens in a new window)
- Click to share on LinkedIn (Opens in a new window)
- Click to email a friend (Opens in a new window)
Why do global actions plummet?
(CNN) - The Dow index had its worst drop in points amid fears of the spread of the coronavirus and the collapse of oil prices. The index closed with a drop of 2,014 points, or 7.8%. It was his worst day since October 2008.
The index drop was higher than that of February 27, less than two weeks ago.
It was a turbulent day at the US stock market.
Futures trading halted after heavy losses in the overnight session, which continued in regular trade: shortly after the market opened, the S&P 500 fell 7%, which caused a circuit breaker and forced the New York Stock Exchange to suspend trade for 15 minutes.
Stocks remained red all day. The S&P 500 fell 7.6% and the Nasdaq Composite decreased 7.3%. It was the worst day for both indices since December 2008.
The three indices are now almost 20% below their most recent highs, which is the definition of a bear market. If stocks fall more tomorrow, they will have gone from record levels to a bear market in a matter of weeks.
