Wall St nosedives, confirms Nasdaq in bear market

The Nasdaq slid on Friday by 962.82 points, or 5.82%, to 15,587.79, the Dow fell 2,231.07 points, or 5.50%, to 38,314.86 points and the S&P 500 lost 322.44 points, or 5.97%, to close at 5,074.08 points.

NEW YORK: Wall Street nosedived for a second straight day on Friday, confirming the Nasdaq Composite was in a bear market and the Dow Jones Industrial Average was in a correction, as an escalating global trade war spurred the biggest losses since the pandemic.

The Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite posted their largest two-day declines since the emerging coronavirus caused global panic during US President Donald Trump's first term. For Thursday and Friday, the Dow was down 9.3%, the S&P 500 10.5% and the Nasdaq 11.4%.