Wall Street tumbles, Dow confirms bear market

The Dow Jones Industrial Average is displayed after the closing bell on the floor of the New York Stock Exchange (NYSE) in New York City,

NEW YORK: Wall Street stocks plunged on Wednesday, with the Dow confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic.

All three major U.S. stock averages ended the session sharply lower, with the benchmark S&P 500 <.SPX> and Nasdaq composite index <.IXIC> both about 19% below their Feb. 19 record closing highs.