S&P 500 falls 20% from record high, crossing bear market threshold

(Reuters) - The S&P 500 on Wednesday fell 20% below its Feb. 19 intraday record high, crossing the threshold into a bear market after the World Health Organization classified the coronavirus outbreak as a pandemic. Earlier in the session the Dow Jones Industrial Average also dipped 20% below its intraday record high reached on Feb.

Reuters March 12, 2020 01:06:59 IST
S&P 500 falls 20% from record high, crossing bear market threshold

SP 500 falls 20 from record high crossing bear market threshold

(Reuters) - The S&P 500 <.SPX> on Wednesday fell 20% below its Feb. 19 intraday record high, crossing the threshold into a bear market after the World Health Organization classified the coronavirus outbreak as a pandemic.

Earlier in the session the Dow Jones Industrial Average <.DJI> also dipped 20% below its intraday record high reached on Feb. 12. To confirm a bear market the averages would need to close 20 percent below their record closing highs.

Based on the latest available data, the Dow Jones Industrial Average <.DJI> fell 1,594.85 points, or 6.37%, to 23,423.31, the S&P 500 <.SPX> lost 164.5 points, or 5.71%, to 2,717.73 and the Nasdaq Composite <.IXIC> dropped 457.12 points, or 5.48%, to 7,887.13.

(Reporting by Sinéad Carew; Editing by Sandra Maler)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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