Dow Ends 11-Year Bull Market as Coronavirus Defies Economic Remedies

THE NEW YORK TIMES: Stocks plunged anew as the outbreak was officially declared a pandemic and policies to address its impact proved lacking or ineffective.

A renewed plunge in financial markets on Wednesday ended an 11-year bull market for the Dow Jones industrial average as the economic threat posed by the coronavirus outbreak came into stark relief.

As policymakers on both sides of the Atlantic appeared unwilling or unable to mount an aggressive response to the crisis, the Dow closed with a loss of nearly 6 percent. That brought its decline from its most recent peak less than a month ago to more than 20 percent — the definition of a bear market.

The broader S&P 500 was down nearly 5 percent for the day, but shy of bear territory.

The full economic toll of the outbreak — now officially a pandemic — will not be clear for months. But there is mounting evidence that it will be severe. Airlines are warning of empty planes and huge financial losses. A sharp drop in oil prices is threatening to put energy companies out of business and thousands of American drillers out of work. Supply-chain bottlenecks are forcing factories around the world to cut output, even as a slump in consumer confidence is raising doubts that there will be demand for their goods once production resumes. » | Ben Casselman | Wednesday, March 11, 2020

Coronavirus Pandemic Could Cause as Much Economic Damage as 2008 Financial Crisis, Experts Warn

THE INDEPENDENT: Stock markets plunge into a correction as panic grips markets and economists warn of global economic impact

A coronavirus pandemic could hurt the global economy as much as the 2008 financial crisis, analysts have warned, as stock markets plunged again on Thursday.

The Dow Jones Industrial Average and S&P 500 have both entered a “correction”, meaning a 10 per cent fall from a recent high.

If confirmed at the end of Thursday’s trading session in New York, the S&P will have experienced its fastest fall since the depths of the financial crisis. The Dow is also on course for its worst week since the crash.

Market turmoil was not restricted to the US. In Europe, the FTSE 100 index tumbled 3.5 per cent to 6801.9, adding to heavy losses already this week. France’s CAC 40 fell 2.6 per cent on the day and Germany’s Dax was down 2.7 per cent.

The panic sell-off came as analysts warned that a Coronavirus pandemic could cause a global economic shock as large as the financial crisis. » | Ben Chapman | Thursday, February 27, 2020

Dow Plummets after China Retaliates with Higher Tariffs

The Dow plunged after China said it will raise tariffs in retaliation to last week's tariff increase by the United States. China hiked tariffs on $60 billion of imports from the United States. It first imposed the tariffs last year. Worries over the escalation of the trade spat with China just aren't going away.