A renewed plunge in financial markets on Wednesday ended an 11-year bull market for the Dow Jones industrial average as the economic threat posed by the coronavirus outbreak came into stark relief. That brought its decline from its most recent peak less than a month ago to more than 20 percent — the definition of a bear market. The broader S&P 500 was down nearly 5 percent for the day, but shy of bear territory. The full economic toll of the outbreak — now officially a pandemic — will not be clear for months. A rate cut by the Federal Reserve last week failed to calm financial markets.

Source: New York Times March 11, 2020 19:44 UTC