Looking at the U.S. stock market through the lens of the Dow, we can see that the market was already in decline in response to growing uncertainty around COVID-19. By mid-March 2020, the Dow had reached its lowest point, registering a 2,999 points’ drop in a single day (March 16th), according to Bloomberg. The Dow recorded similar calamity-like losses during the “Black Monday” (1987), 9/11 attacks (2001–2002) and GFC (2007–2008) events. While recoveries from those lows took at least 2 years, the Dow is already back to March 1st levels within only about 8 months and this recovery has not gone unnoticed. Market experts are already attributing this to rising economic optimism, a boom in risky trades and dominance of the tech industry.
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The COVID-19 Data Futures Platform is a project of the United Nations Development Programme (UNDP). UNDP works to eradicate poverty while protecting the planet. We help countries develop strong policies, skills, partnerships and institutions so they can sustain their progress.
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