, Columnist
The Bear Is Back With Less Regard for Sentiment
Fundamentals will be the key for how long it sticks around.
Did you forget about me?
Photographer: William Vanderson/Hulton Archive/Getty Images
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After 12 long years of hibernation, the bear is back in the U.S. — and this time its run will depend less on sentiment and more on fundamentals.
The Dow Jones Industrial Average closed Wednesday down 20.3% from its record high on Feb. 12, crossing the 20% threshold widely considered the marker of a bear market. The S&P 500 Index dipped into bear territory, too, falling to 2,707 late in the trading day from its record of 3,386 on Feb. 19.