“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.
#DJI avweage closes down 10%. pic.twitter.com/iuuLnt9BmW
— Steve Herman (@W7VOA) March 12, 2020
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.
It's so bad, stock traders are touching their faces again.https://t.co/Os5WXDoLID
— Bill Grueskin (@BGrueskin) March 12, 2020
*DOW AVERAGE FALLS 10% IN BIGGEST ROUT SINCE 1987'S BLACK MONDAY
— Mike Nizza (@mikenizza) March 12, 2020
LIVE: @NBCNews Special Report: Dow closes down 10% amid coronavirus impacts and concerns. https://t.co/4yPZVMlYEi
— NBC News (@NBCNews) March 12, 2020
BREAKING:
*DOW AVERAGE FALLS 10% IN BIGGEST ROUT SINCE 1987'S BLACK MONDAY*CANADA'S S&P/TSX PLUNGES 12% IN BIGGEST DECLINE SINCE 1940
— Mike Dorning (@MikeDorning) March 12, 2020
The Dow just crashed 10% in one day, the fourth-worst loss in history
The other three were Black Monday in 1987 and a couple of slightly worse days in 1929
— Mark Gongloff (@markgongloff) March 12, 2020
The Dow falls 10% in the biggest rout since 1987's Black Monday https://t.co/KrWzbk4PQv pic.twitter.com/NIUAyzrE0a
— Bloomberg (@business) March 12, 2020