Wall St. totters; Dow enters bear market territory for the first time since 2008


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Wall St. totters; Dow enters bear market territory for the first time since 2008

On Wednesday, the 11th of March 2020, the American Dollar had softened against safe-haven currencies such as Japanese Yen alongside Swiss Franc, while the Wall St. had witnessed another bloodbath with all of its key indices faltering more than 4 per cent.

More importantly, Wednesday’s (March 11th) Wall St. had marked up a historic day for the Dow Jones Industrial Average, as the trade-sensitive index had entered in to a bearish market territory for the first time since the ages of great financial depression in 2008, while S&P had drowned further in to a bearish territory, losing more than 20 per cent of its most recent peak reached on February 19th followed by a WHO announcement that the ongoing spell of a slanderous outbreak of coronavirus epidemic had turned in to a global-scale pandemic.

Meanwhile, adding that a recent move of Trump Administration to classify coronavirus-related documents had sent the investors at the edge of a cliff, a chief investment officer at Bokeh Capital Partners in Pittsburgh, Kim Forrest said on Wednesday (March 11th), “We woke up really worried about it.

There’s a wider spread, the numbers are growing. I don’t think anyone at this point knows the real scope of this. ” Citing statistics, on Wednesday’s (March 11th) Wall St. round off, Dow Jones fell as much as 5.86 per cent to 23,553.22 and S&P 500 had shrugged off 4.89 per cent of its earlier gains to 2,741.38, dipping further in to a bearish territory, while the tech-heavy Nasdaq was nudged 4.7 per cent lower to 7,952.05.