Market Extra: Stocks will fall into a bear market if the Dow and S&P 500 close below these levels

A bear market is widely defined as a drop of 20% from a recent peak. Stocks had dropped into correction mode — defined as a pullback of 10% — late last month as fears over the economic impact of the coronavirus outbreak began to rise.

Here are the levels where key indexes would need to close to enter bear territory, according to Dow Jones Market Data:

S&P 500SPX, -7.59% — 2,708.92

Dow Jones Industrial AverageDJIA, -7.78% — 23,641.14

Nasdaq CompositeCOMP, -7.28% — 7,853.74

Stocks fell sharply Monday, triggering a so-called circuit breaker that temporarily halted U.S. equity trading after the S&P 500 saw a daily drop of 7% in early trade. The decline left the S&P 500 down 18.9% from its all-time closing high, finishing at 2,746.56. The Dow Jones Industrial Average dropped over 2,000 points, or 7.8%, to end at 23,851.02, down 19.3% from its record close. The Nasdaq Composite ended at 7,950.68, down 19% from all-time closing high.

See:How an ‘oil shock’ and coronavirus combined to spark a global stock-market selloff

The bull market turned 11 on Monday, marking the anniversary of the March 9, 2009, low for the S&P 500 during the financial crisis.

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