Bears Take Charge Of Wall Street

The Dow Jones Industrial Average officially entered bear market territory Monday, following a precipitous drop.

  • The Dow fell 329.60 points Monday, marking a 1.11% decline, placing the index into bear market territory, per MarketWatch.
  • A bear market is traditionally defined as a 20% decline from a recent high.
  • On Friday, the Dow Jones plunged below 30,000, effectively erasing all of the stock market’s gains since President Biden took office.
  • The S&P 500 also reach a low point for the year 2022, dropping 1.03% to 3,655.04 while the third major index, the Nasdaq Composite, dropped 0.6% to 10,802.92.
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