Off The Wire
Dow on pace to confirm bear market, falls 20% from record close
Sept 23 (Reuters) - The Dow Jones Industrial Average (.DJI) was down more than 20% from its Jan. 4 record closing high on Friday, putting it on track to confirm a bear market at the close.
The index would confirm it has been in a bear market if it ends more than 20% below the record closing high, according to a widely used definition.
The Dow Jones Industrial Average (.DJI) briefly slipped below 29,439.72, the minimum level it needs to close at to confirm a bear market.
At 12:20 p.m. ET, the index was down 619.10 points, or 2.06%, at 29,457.58.