The ups and downs of the Dow last week (3/9/20 – 3/13/20)

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Conner Huang, Website Manager

Last week was a rollercoaster for the stock market which has become highly volatile in the Coronavirus era. In this article, I will be focusing specifically on the Dow.

 

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Here is a timeline (3/9/20 – 3/13/20) of the Dow:

 

3/9 – Dow started the week off at 24,992 points and had dropped around 1,000 points by 4:00pm EST. The NYSE also halted trading for 15 minutes during the session.  

 

3/10 – Overnight, Dow increased by around 500 points and started the day at 24,453 points. It increased by around 500 points during the day and closed at over 25,000 points.  

 

3/11 – Wednesday through Thursday morning saw the Dow drop by over 2,000 points and the start of a bear market. It also increased already high fears of a recession.

 

3/12 – When the market opened, stocks dropped so rapidly that trading was halted for 15 minutes at the NYSE. By the end of the day, the Dow had dropped by around 700 points.

 

3/13 – On Friday, the Dow rebounded, rallied and gained nearly 2000 points after President Trump and business leaders announced that they would be working to combat the Coronavirus. Microsoft’s stock went up over 14% and other big companies’ stock like Apple and AT&T also went up by over 10%.

 

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Sadly, Coronavirus has stopped the bull market and the momentum that the market has had for the last few years. The market now has high volatility which can be seen in any stock market index and how they have had huge losses and huge gains. Who knows if the prices of all stocks are cheap right now or if they will just keep going down and keep losing value. The only thing we do know is that the future looks murky and a recession could be on the horizon.