Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Dow drops but narrowly avoids confirming bear market status

Stock Markets Sep 23, 2022 05:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A screen charts the Dow Jones Industrial Average during the trading day on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 24, 2022. REUTERS/Brendan McDermid
 
US500
-0.20%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
-0.14%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(Fixes typo in headline)

By Medha Singh

(Reuters) -The blue-chip Dow Jones Industrial Average tumbled to its lowest level since November 2020 on Friday, but narrowly missed ending more than 20% below its Jan. 4 closing record high.

A Dow close below 29,439.72 would have confirmed a bear market that began from that record, according to a widely used definition. The Dow fell 486.27 points, or 1.62%, to end at 29,590.41.

The Dow is the only one of the three main indexes not to have bear market status. The S&P 500 notched that grim milestone in June and the Nasdaq in March.

The renewed selling pressure in markets came in a week that saw the U.S. Federal Reserve raise interest rates by three-quarters of a percentage point for a third straight time and a vow to keep it going until inflation is under control.

It has been a tumultuous year for Wall Street, plagued by worries about Russia's invasion of Ukraine, an energy crisis in Europe and the end of easy money policy globally.

The S&P 500 has lost 23% this year and the Nasdaq has shed 31%.

The last time the three indexes pulled back so sharply was in 2020 during the heights of the pandemic selloff.

Heightened fears of a U.S. economic downturn next year and its impact on corporate profits has prompted brokerages to downgrade their year-end targets for the S&P 500.

Dow drops but narrowly avoids confirming bear market status
 

Related Articles

Today's Most Important Initiations
Today's Most Important Initiations By Investing.com - Oct 05, 2022

By Davit Kirakosyan Guggenheim assumed coverage on Etsy (NASDAQ:ETSY) with a Buy rating and a $125 price target (vs. prior $110). According to the analysts, the implied CAGR...

Costco Comparable Store Sales Rise 8.5% in September
Costco Comparable Store Sales Rise 8.5% in September By Investing.com - Oct 05, 2022

By Yasin Ebrahim Investing -- Costco reported Wednesday comparable store sales grew 8.5% in September as double-digit growth in its core U.S. market more than offset weakness...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (8)
Warren Wesley
Warren Wesley Sep 24, 2022 6:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
not a penny to stop fentanyl crossing the southern border. what a hypocrite
TALLURI ANJANEYULU
TALLURI ANJANEYULU Sep 24, 2022 3:11AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
BUT THE MARKET BOTTOM IS NOT INDICATED
Matius Marv
Matius Marv Sep 23, 2022 4:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
DOUBLE FLOOR AND THIS MEDIA SELL PANIC; I BOUGHT MORE
Jamie Kent
Jamie Kent Sep 23, 2022 4:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You actually believe it is worth 50% more than it was 4 years ago? Do you remember the past 2 years? It can go much deeper than this, much much deeper....into the teens
Bev Mcguffee
Bev Mcguffee Sep 23, 2022 3:53PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Remember, Biden said that he has never owned a stock, and he does not like the stock market.
Laxman Neupane
Beautiful Sep 23, 2022 3:53PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Of course, he has no idea how corporates have to work to create value. He just likes to spend & doesn't care where it comes from.
Brad Albright
Brad Albright Sep 23, 2022 3:53PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Biden made that commitment to avoid any conflict of interest as a public servant. Republican corruption has made some of us so jaded that that we cannot even appreciated virtue when we see it.
Jason Biesecker
Jason Biesecker Sep 23, 2022 11:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
10/25/2020 26501, today 29600..... not exactly accurate. Get better analysis Reuters!
Jeff Chevalier
Jeff Chevalier Sep 23, 2022 11:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It's also not October.
Jason Biesecker
Jason Biesecker Sep 23, 2022 10:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it is 3000 pts off from 2 year low. Think the statement of the heading is way off!
Rubbing Hands
Rubbing Hands Sep 23, 2022 10:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I would rather have high paying jobs and deal with inflation than lose my job and 401k with a recession. This was all self created by them leaving the rates so low for all that time. I'm gonna vote red in November! We can't afford to keep making poor decision after poor decision.
Horde NotTrade
Horde NotTrade Sep 23, 2022 10:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I am gonna vote red but you can't have 10% inflation when job pay is going up 5% at best.
Jeff Chevalier
Jeff Chevalier Sep 23, 2022 10:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump put Powell in the position. Maybe rethink your plan...
Jamie Kent
Jamie Kent Sep 23, 2022 10:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
10% is a joke, really inflation is at least 20-30%.
Jeff Walker
Jeff Walker Sep 23, 2022 10:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well the hikes were  brought on by inflation and the governments aggressive spending.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email