News Formal

Dow in bear market as global rout deepens on coronavirus fears

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

NEW YORK: Wall Street stocks suffered another bruising rout on Wednesday (Mar 11), with the Dow sinking into a bear market, as the economic toll ...

NEW YORK: Wall Street stocks suffered another bruising rout on Wednesday , with the Dow sinking into a bear market, as the economic toll from the coronavirus mounts with more major event cancellations.

The Dow Jones Industrial Average plunged around 1,465 points, or 5.9 per cent, to 23,553.22, yet another brutal daily drop that left the index more than 20 per cent below its peak, making it a bear market. The move is the latest escalation of a fight among oil producers after Russia balked at an OPEC-backed plan to cut production in response to lost demand from the coronavirus.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street tumbles, Dow confirms bear marketU.S. stock indexes tumbled on Wednesday as investors worried over the absence of immediate measures from President Donald Trump's administration ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »