Are we getting close to a capitulation move here yet? Oversold bounce incoming?
Dow plunges deeper into correction territory, is now down 900 points
Stocks fell sharply once again on Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings also dragged down the major averages.
The Dow Jones Industrial Average plummeted 900 points, or 3.4%. The S&P 500 slid 3.3% while the Nasdaq Composite dropped 3.7%.
Those losses put the Dow in correction territory, down 10% from its record close to where it’s trading at now. The S&P 500 was in correction territory on an intraday basis. It took the Dow just 10 sessions to tumble from its all-time high. The S&P 500 and Nasdaq set record highs last week.