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

(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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