The Nasdaq Composite Index fell into bear market territory on Friday for the first time since the financial crisis, capping a rough week that saw U. S. stocks suffer their worst week in seven years.
The Nasdaq Composite Index fell into bear market territory on Friday for the first time since the financial crisis, capping a rough week that saw U. S. stocks suffer their worst week in seven years.
At close of trading Friday, the Nasdaq finished down 21.9 percent from its Aug. 29 record closing high, Reuters reported.
A 20 percent decline from a previous high is the threshold for a bear market.
Nasdaq is the first of the three major U. S. indexes to hit bear market territory this year.
