- Title: Wall Street tumbles, Dow confirms bear market
- Date: 11th March 2020
- Summary: NEW YORK, NEW YORK, UNITED STATES (MARCH 11, 2020) (REUTERS) (SOUNDBITE) (English) BARRETT ASSET MANAGEMENT CHIEF INVESTMENT OFFICER, AMY KONG, SAYING: "Yeah, I think with the official declaration that it's a pandemic, you're seeing, again, fear getting flushed out in the system. I was just thinking through what areas have, not necessarily dodged a bullet, but have relatively outperformed. It's probably the safer areas, including the staples and the health care names. I think the one area that have actually been on the green side, if you would, are names like LabCorp or even, you know, Regeneron, as an example, which I think the markets are hoping that they will either be able to come up with some kind of vaccine or whatnot. And on the flip side, you know, the cruise lines, those that will obviously take a very, very big hit because those are a lost-revenue-type models. Unfortunately, those are getting hit a lot worse than the former category."
- Embargoed: 25th March 2020 20:20
- Keywords: Amy Kong Dow Jones Industrial Average Nasdaq Composite S&P 500 Wall Street coronavirus cruises equities global economy markets pandemic pharma recession worries shares stocks
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002C4M0SY5
- Aspect Ratio: 16:9
- Story Text: Wall Street plunged on Wednesday (March 11), with the Dow confirming a bear market for the first time since the 2008 financial crisis as the World Health Organization called the coronavirus outbreak a pandemic.
The Dow Jones Industrial Average fell 1,464.63 points, or 5.85%, to 23,553.53, the S&P 500 lost 140.84 points, or 4.89%, to 2,741.39, and the Nasdaq Composite dropped 392.20 points, or 4.7%, to 7,952.05.
(Production: Aleksandra Michalska & Fred Katayama)
- Copyright Holder: REUTERS
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