Dow Has Worst Day Since 1987 Financial Crash

Ends day down 2.3K, its largest single-day drop ever
By Evann Gastaldo,  Newser Staff
Posted Mar 12, 2020 3:17 PM CDT
Dow Has Worst Day Since 1987 Financial Crash
Michael Conlon, center, works with fellow traders on the floor of the New York Stock Exchange, Thursday, March 12, 2020.   (AP Photo/Richard Drew)

(Newser) – To say it was another brutal day on Wall Street is an understatement. The Dow Jones Industrial average ended the day down 2,352 points, once again setting a record for the worst-ever single-day point drop. As CNBC reports, that 10% plummet is the index's worst performance since the 1987 financial crash, when it plunged 22% on "Black Monday." The S&P 500 also had its worst day since 1987 and also joined the Dow in a bear market; it closed down 2,480 points, or 9.5%. The Nasdaq closed down 7,201 points, or 9.4%. The AP reports it had already entered a bear market, which occurs when the index falls 20% or more from the peak for a sustained period of time, meaning all major US indices are now there. The Dow is down 28.3% from its Feb. 12 record close; the S&P 500 is down 26.7 from its Feb. 19 record; the Nasdaq is down 26.6% from its Feb. 19 peak. (Read more coronavirus stories.)

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