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U.S. ECONOMIC CALENDAR 2021. 6.4%. -3.5% (2020) January 2023. GDP (Annual) 2022. 3.2%. -3.5% (2020) The median forecasts in this calendar come from weekly and monthly surveys of economists conducted by Dow Jones

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U.S. ECONOMIC CALENDAR 2021. 6.4%. -3.5% (2020) January 2023. GDP (Annual) 2022. 3.2%. -3.5% (2020) The median forecasts in this calendar come from weekly and monthly surveys of economists conducted by Dow Jones DJIA | DOW JONES INDUSTRIAL AVERAGE OVERVIEW | MARKETWATCH DJIA | A complete Dow Jones Industrial Average index overview by MarketWatch. View stock market news, stock market data and trading

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U.S. ECONOMIC CALENDAR 2021. 6.4%. -3.5% (2020) January 2023. GDP (Annual) 2022. 3.2%. -3.5% (2020) The median forecasts in this calendar come from weekly and monthly surveys of economists conducted by Dow Jones DJIA | DOW JONES INDUSTRIAL AVERAGE OVERVIEW | MARKETWATCH DJIA | A complete Dow Jones Industrial Average index overview by MarketWatch. View stock market news, stock market data and trading

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INVEST SIMPLE WITH LAZY PORTFOLIOS Paul B. Farrell's Lazy Portfolios. Focus on things that are really important and let your money do the work with these eight portfolios for the Lazy Investor, tried and tested by MarketWatch's

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U.S. ECONOMIC CALENDAR 2021. 6.4%. -3.5% (2020) January 2023. GDP (Annual) 2022. 3.2%. -3.5% (2020) The median forecasts in this calendar come from weekly and monthly surveys of economists conducted by Dow Jones DJIA | DOW JONES INDUSTRIAL AVERAGE OVERVIEW | MARKETWATCH DJIA | A complete Dow Jones Industrial Average index overview by MarketWatch. View stock market news, stock market data and trading

information.

SHORT INTEREST

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WHERE TO RETIRE

‘Work and a few vacations each year is all we’ve done for the past 34 years’ — This couple has $2.6 million and no idea where to

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LB00 | RANDOM LENGTH LUMBER CONTINUOUS CONTRACT OVERVIEW LB00 | A complete Random Length Lumber Continuous Contract futures overview by MarketWatch. View the futures and commodity market news, futures pricing and futures trading. THE TRUMP TAX CALCULATOR The Trump tax calculator House and Senate lawmakers have agreed on legislation to cut taxes that President Trump labels the biggest tax

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AFTER HOURS SCREENER Monitor leaders, laggards and most active stocks during after-market

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LATEST FROM NEED TO KNOW COLUMN The latest from Need to Know. Sweating over stock picks? Get rid of the losers and watch your portfolio fly, says this index manager. May. 4, 2021 at 3:15 p.m. ET by Barbara Kollmeyer. A 10% drop

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FLYW STOCK PRICE

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AMC STOCK PRICE

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MARKET SUMMARY

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THE DOW TUMBLED MORE THAN 1,000 POINTS AND MARKED ITS THIRD-WORST POINT DROP IN HISTORY — HERE’S HOW THE STOCK MARKET TENDS TO PERFORM AFTER BIG DROPS

By Mark DeCambre

Published: Feb 24, 2020 5:19 p.m. ET

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Text Resize Print icon THE CORONAVIRUS-INSPIRED TUMBLE, BY THE NUMBERS AFP/Getty Images A genuine tumble for investors?

By

MARKDECAMBRE

It finally happened. A bona fide selloff took hold Monday on Wall Street after investors spent weeks attempting to come to terms with the potential impact of the COVID-19 outbreak as it spreads in countries outside of China, notably Italy and Iran, threatening to dent global supply chains and

economies.

There are now 79,339 cases of COVID-19 — the infectious disease derived from the novel strain of coronavirus that reportedly originated in Wuhan, China, last year — in 30 countries, and 2,619 deaths, according to the latest figures from the World Health

Organization.

THIRD-BIGGEST POINT DROP...EVER

The day’s decline

marks the third-biggest daily point drop for the Dow Jones Industrial Average DJIA, -3.56% in its 124-year history. The blue-chip benchmark closed 1,031.61 points, or 3.56%, lower, to end at 27,961, not far from the intraday low at

27,912.44.

Date

Point change

% change

Feb. 5

-1,175 points

-4.60%

Feb. 8

-1,032

-4.15

FEB. 24 (at low)

-1,031.61

-3.56%

To be sure, such point drops are less meaningful because the Dow has been trading at lofty levels. For example, the Dow’s 1987 crash was a 508-point decline but that fall represented a 23% plunge back

then.

NEED TO KNOW: Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus sends stocks plunging

1.32% OR BUST

The 10-year Treasury note yield TMUBMUSD10Y, -6.84% tumbled more than 10 basis points to trade at 1.367% on Monday, just shy of its June 2016 record low of 1.32%. Bond prices rise as yields fall. The 30-year bond yield TMUBMUSD30Y, -4.27%

,

known as the long bond, hit an all-time low last week, raising worries that bond investors are betting on economic pain ahead. Government bonds have been hovering around lows even as stocks have been climbing, an odd dynamic in the market and has implied that investors are unsettled by the uncertainty surrounding the outbreak.

3% OR WORSE

Monday’s selloff marks the first time all three major benchmarks — the Dow, the S&P 500 index SPX, -3.35% , and the Nasdaq Composite Index COMP, -3.71% — each fell by at least 3% on the same day since Dec. 4, 2018, according to Dow Jones Market Data.

11 SECTORS

The 11 sectors of the S&P 500 index all finished in the red, led by a 4.74% decline in the energy sector XLE, -4.62% , which suffered the worst daily percentage loss since Aug. 24, 2015.

ALL 30

All 30 of the Dow Jones Industrial Average’s components finished lower, led by a whopping 7.8% decline in shares of UNITEDHEALTH GROUP INC. UNH, -7.84% , marking its largest daily slide since Aug. 8, 2011

.

The fall in the health insurer exacted a toll of more than 160 points on the price-weighted blue-chip benchmark. NEGATIVE FOR THE YEAR Monday’s downturn has wiped out this year’s gains for the Dow (now -2.02%) and the S&P 500 (now -0.15%).

50-DAY

The S&P 500 breached its 50-day moving average for the first time since October. Technical analysts view moving averages as dividing lines between long-term and short-term bullish and bearish averages. The S&P 500’s 50-day moving average stands at 3,275.90 (see chart

below).

The Dow also closed well below its 50-day moving average at 28,805.54, and slightly above its 200-day moving average at 27,224.03. WORTH A READ: Apple’s stock falls below its 50-day moving average for first time in nearly 6 months READ: Economists say Fed rate cut could come as early as March CHECK OUT: Can stocks keep soaring as the U.S. dollar surges? What investors need to know SO HOW DOES THE MARKET TEND TO PERFORM IN THIS AFTERMATH? Despite all the relative carnage being endured by the market, stocks have a tendency to rebound after a hit of at least 2%, Dow Jones

Market Data shows.

The past 10 times that the S&P 500 index fell by as much as 3%, for example, it declined 0.27%, on average, in the next trading session. However, the average performance improved dramatically in the following week, month and year, as shown in the table below:

TIME FRAME

PERFORMANCE S&P 500 AFTER IT HAS FALLEN AT LEAST 3% IN ONE DAY

Day after

-0.27%

1 week after

1.83%

1 month after

2.08%

1 year after

12.97%

Meanwhile, the Dow has a similar record.

Time frame

PERFORMANCE DOW AFTER IT HAS FALLEN AT LEAST 3% IN ONE DAY

Day after

-0.19%

1 week after

2.07%

1 month after

2.93%

1 year after

12.52%

To be sure, how the market performs in the past is no guarantee of what it will do in the future. On top of that, an epidemic that gets out of control could lead to unprecedented results for the market and economy. During past epidemics

,

the market has eventually rebounded, however. The researchers at Bespoke Investment Group also make the case that, over the past 11 years, declines of more than 2% for the S&P 500 have tended to see healthy rebounds, particularly when that daily slide happens on a Monday. “Since March 2009, there have been 18 prior 2%+ drops on Mondays, and SPY has seen an average gain of 1.02% on the next day (Turnaround Tuesday),” the analysts wrote Monday. See attached chart: Source: Bespoke Investment Group READ: Opinion: If the coronavirus isn’t contained, a severe global recession is almost certain CORONAVIRUS UPDATE: 79,407 cases, 2,622 deaths, clusters emerge in

Iran and Italy

—Michael Destefano contributed to this article

MARK DECAMBRE

Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre. WE WANT TO HEAR FROM YOU Join the conversation

Comment

RELATED TOPICS

*

U.S. STOCKS

*

MARKETS

*

NY STOCK EXCHANGE

*

NASDAQ

QUOTE REFERENCES

* DJIA

-1,031.61 -3.56%

* TMUBMUSD10Y

-0.10 -6.84%

* TMUBMUSD30Y

-0.08 -4.27%

* SPX

-111.86 -3.35%

* COMP

-355.31 -3.71%

* XLE

-2.50 -4.62%

* UNH

-23.64 -7.84%

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Dow ends more than 1,000 points lower as coronavirus spread sparks fear of global economic hit

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Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus sends stocks plunging

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‘Mad’ Mike Hughes dies in rocket crash trying to prove Earth is

flat

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George Manuhu

1m

The data points given are meaningless and were picked after the market bottom in 2009 which was the start of the bull market. If we are going to see a market correction, the statement of market performance in the article will end up being wrong. We would probably see the opposite trend if you picked data points in a down market.

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No GOP

2m

The good news is that the Trump supporters will blame Obama, and now Bernie, for any negative consequences. Perhaps the virus, global warming, and staggering government, commercial and consumer debt fueled by artificially low interest rates has nothing to do with it. Perhaps it's all Bernie's fault, right?

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James AttaldoLeader

3m

Trump tweeted that 'the market is starting to look very good to me'. Mr. Alternative facts has done it again!

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Ron Free

3m

My IRA was up 2.9% today, on a single day, and 19% up YTD. However most of my money is in my 401K with my current employer, and sitting in money market because I can't buy the stocks I want. Short of quitting my job, are there any tricks to moving my 401K money into my IRA? I save 40% on taxes in 401K, but my IRA went up 40% last year while 401k was flat for the year, so I im not really better off in

401K

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James OlearyLeader

10m

They are using the wrong data period to fully explain what might happen ... we are overdue for the next recession.

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john DusenburyLeader

9m

James Oleary

Fade James O'Leary....

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June KellerLeader

13m

So, how do all the stock buybacks look now?

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Ace HallLeader

20m

I think it has more to do with a raging anti-market Socialist winning the caucus in Nevada, than it does the Coronavirus. God help us all if Bernie somehow becomes president.

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Grant MarleneeLeader

6m

Ace Hall

Why would Bernie winning in Nevada cause a downturn? If he somehow gets past the Dem powers that be and gets the nomination that would guarantee Trump in 2020. Isn't that good news for the zillionares that

run the market?

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James AttaldoLeader

13m

Ace Hall

I think God is helping the world with this virus to make sure Trump

doesn't win.

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al parks

22m

Lol. The gif looks like something that happens after trump loses and declares civil war between all the keyboard warriors.

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scott drescherLeader

40m

Let's be realistic. It wasn't COVID-19, it was Sanders' win in NV that prompted the sell-off. Wall Street (rightly) knows that he would be a disaster of biblical proportions.

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Kent HannaLeader

2m

scott drescher

Let's be realistic, it was COVID-19 breaking out in Italy and Iran.

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Sanguine SolitudeLeader

24m

scott drescher

He would be a disaster for wall street. He would be great for the people. The people's wants and those of wall street are frequently at

odds.

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Rick ShawnInfluencer

41m

This is a very serious situation, this thing is out of hand now, which means, a slowdown in global tourism, travel, no more events at large public gathering, sports arenas, stadiums, schools, colleges, downtowns would be quiet, any public space would be empty, as more and more people get affected, until they find a cure, all this is very possible, i'm not saying this will definitely happen, no one knows the future, but common sense and all news on the subject is pointing in this direction, don't know anyone who is booking travel on a cruise ship right now. I predict a further slide, that continues towards the

end of the year.

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Kent HannaLeader

12m

Rick Shawn

There isn't going to be a cure. How long have they been looking for a cure for the common cold for? It could be that this will eventually be part of the yearly Influenza outbreaks.

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Rick ShawnInfluencer

28m

Rick Shawn

There’s currently no treatment specifically approved for the 2019 coronavirus, and no cure for an infection, although treatments and vaccines are currently under study. Instead, treatment focuses on managing symptoms as the virus runs its course. Its probably spreading in poor countries like Afghanistan, Bangladesh, Pakistan and India with a total population of over 1500 million people who are poor, lack the proper medical care required to deal with this virus of epic proportions, the likes we have not seen in recent memory, the entire planet has a real chance of getting seriously affected.

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