Published 16 mins ago
Dow has worst day since '87, S&P, Nasdaq hit bear market
The S&P 500 entered a bear market joining the Dow.
By Jonathan Garber, Suzanne O'HalloranFOXBusiness
U.S. equity markets cratered Thursday despite another flood of liquidity from the Federal Reserve after President Trump suspended travel from Europe for 30 days in an effort to contain the spread of the corona10 percent.
The S&P 500 entered a bear market down about 8 percent while the Nasdaq did as well dropping nearly 8 percent. Trading in U.S. equity markets was halted briefly just minutes after the opening bell when the S&P fell by 7 percent.
The entry into bear market territory was the fastest on record for the S&P and Nasdaq as tracked by the Dow Jones Market Data Group.
Stocks briefly trimmed some losses, before selling resumed after the New York Federal Reserve injected $1.5 trillion of fresh liquidity into the bond market.
The decline was the worst since the Black Monday crash of 1987 when the index lost 22 percent of its value in a single day amid trade-deficit and tax worries exacerbated by computerized trading.
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https://www.foxbusiness.com/markets/us-stocks-march-12-2020