The Dow Jones Industrial Average tumbled into a bear market in a mere 19 trading days spanning from mid-February to early-March, thanks to the COVID-19 coronavirus. The 20% fall — the traditional definition of a bear market — from an all-time high ended a more-than decade-long bull market.
By that same definition, the coronavirus bear market also ended up being the shortest-lived in history.
On Thursday, the Dow surpassed a 20% gain from its low point on Monday — signifying the beginning of a new bull market after just 11 trading days in a bear market. A late-afternoon rally pushed the index above 22,310.32 to enter a new bull market.
It has been a roaring three-day rally for the Dow: up 11.4% on Tuesday, up 2.4% on Wednesday, and up 6.4% on Thursday.
MacDailyNews Take: Up and down we go; where it ends, nobody knows!