U.S. stocks took a beating in what is described as the worst Christmas Eve trading ever, as the S&P 500 entered a bear market.
The Dow Jones Industrial Average decreased by 653 points Monday in volatile trading, falling below 22,000.
The Dow sank more than 2 percent, then recovered nearly all of the day’s losses, before again falling more than 2 percent.
The S&P 500 dropped 2.7 percent, slipping into a bear market as it fell 20.06 percent from recent highs.
Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market. The Nasdaq Composite Index slid 2.2 percent.
Edited by Jesus Chan
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