#Asian #Shares Sink After DOW Hits Bear Level On #Pandemic News; #COVID19

TOKYO (AP) — Global shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. France's CAC 40 slipped 6.6% to 4,307.17,…

On Wall Street, the Dow’s loss dragged it 20% below the record set last month and put the index in a bear market. The broader S&P 500, which professional investors watch more closely, is a single percentage point away from falling into its own bear market, which would end the longest bull market in Wall Street history.

The future contracts for the Dow and the S&P 500 were both down more than 4% by Thursday afternoon in Asia.

The recent decline has been one of the swiftest sell-offs of this magnitude. The fastest the S&P 500 has ever fallen from a record into a bear market was over 55 days in 1987.

Source: AP, full story


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