Both the TSX & Dow Jones have now entered a bear market.
It was another bloodbath in the markets today.
Two days ago, both the Dow Jones and TSX plunged.
A day ago, they recovered slightly, as governments telegraphed stimulus measures.
But with the Coronavirus continuing to spread, and a growing awareness that this could be something we’re dealing with for a long time, markets are down again.
The TSX fell 646.70 today, finishing the session at 14,321.25.
It’s now down 20% from the February peak.
The Dow Jones Industrial Average fell 1,464.94, finishing at 23,553.22.
It’s also in a bear market, falling 20% since the high in February.
Big ups and downs are likely for the foreseeable future, with emotions and fear running high, and people waiting on each government announcement for a sense of what actions will be taken.
With growing market concern, US President Donald Trump met with top US bankers. Additionally, the US Federal Reserve provided further money to banks in the overnight repo lending market:
"Our number one priority is the health of the people of our country." President Trump says he will make a statement later tonight about what he has decided to do about the coronavirus pandemic. pic.twitter.com/homQveC0Hc
— CNBC (@CNBC) March 11, 2020
The @federalreserve is boosting money it's providing to banks in overnight repo lending to $175 billion. pic.twitter.com/SiG18vkoxQ
— Power Lunch (@PowerLunch) March 11, 2020
Spencer Fernando
Photo – Twitter
