Dow's 4th-worst loss in history
“The Dow had its worst day since 1987, plunging about 10%, despite moves by the Fed and ECB to calm markets,” the WSJ reports at the end of a grim trading day Thursday.
The 10 percent drop is the worst since 1987's Black Monday.
Benchmarks fell more than 8% as the S&P and Nasdaq joined the Dow in new bear-market territory.
From the WSJ:
The U.S. stocks sell-off that pushed the Dow Jones Industrial Average into a bear market continued at a furious pace Thursday as the coronavirus pandemic threatened to deeply harm global growth.
The S&P 500 shed more than 7% shortly after the opening bell, sending that index into bear market territory and triggering a 15-minute halt in trading. The drop marked the second time this week that a rarely-used circuit breaker was triggered.
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