Stocks will fall into a bear market if the Dow and S&P 500 close below these levels

Date:

Published: March 9, 2020 at 5:15 p.m. ET

Equities on cusp of bear territory as investors mark bull market’s 11th birthday

APA/AFP via Getty Images

Referenced Symbols

SPX

-7.59% 

DJIA

-7.78% 

COMP

-7.28% 

A birthday party for the longest bull market in U.S. history turned into a bummer on Monday, as major indexes fell toward thresholds that would end of that run and mark the start of a bear market.

Read:The bull market turns 11 on Monday, can it outrun the coronavirus stock selloff?

A bear market is widely defined as a drop of 20% from a recent peak. Stocks had dropped into correction mode — defined as a pullback of 10% — late last month as fears over the economic impact of the coronavirus outbreak began to rise.

Here are the levels where key indexes would need to close to enter bear territory, according to Dow Jones Market Data:

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S&P 500 SPX, -7.59% — 2,708.92

Dow Jones Industrial Average DJIA, -7.78% — 23,641.14

Nasdaq Composite COMP, -7.28% — 7,853.74

Stocks fell sharply Monday, triggering a so-called circuit breaker that temporarily halted U.S. equity trading after the S&P 500 saw a daily drop of 7% in early trade. The decline left the S&P 500 down 18.9% from its all-time closing high, finishing at 2,746.56. The Dow Jones Industrial Average dropped over 2,000 points, or 7.8%, to end at 23,851.02, down 19.3% from its record close. The Nasdaq Composite ended at 7,950.68, down 19% from all-time closing high.

See:How an ‘oil shock’ and coronavirus combined to spark a global stock-market selloff

The bull market turned 11 on Monday, marking the anniversary of the March 9, 2009, low for the S&P 500 during the financial crisis.

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Ibekwe Cynthiahttp://evergreennewsonline.com
Ibekwe Cynthia .C. is a certified senior reporter/graphic designer/Advert executive at Evergreennewsonline.

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