Dow drops, S&P 500 on the cusp of bear market
Last week the Dow lost 1,655 points, or 6.8 percent. That was the Dow’s worst week of trading since October 2008 during the financial crisis. The S&P 500 also lost 7 percent for the week. The Nasdaq Composite is now 22 percent below its record reached in August and is in a bear market.
December is typically a buoyant month for stocks. Yet both the Dow and S&P 500 are down more than 14 percent this month — on track for their worst December performances since the Great Depression in 1931.