The US equity benchmark closed at 29,260.81 on Monday-nearly 1 per cent down from its pre-pandemic closing high of 29,551.52 made on February 12, 2020. With this, the Dow is now down 20.5 per cent from its post-pandemic high of 36,799.65 made in January this year. This potentially pushes the US equity market into bearish territory.
In the equity market, a sustained 20 per cent decline in benchmark indices from their highs is an indication of the end of a bull market and the start of a bear cycle. The Indian equity market is, however, a global outlier and remains firmly in the bull phase-both in local currency and in constant currency terms.
Denne historien er fra September 28, 2022-utgaven av Business Standard.
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Denne historien er fra September 28, 2022-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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