The Dow Jones Industrial Average officially entered bear market territory on Monday, following a precipitous drop.
The key metric fell 329.60 points on Monday, marking a 1.11% decline, placing the index in bear market territory, per MarketWatch. A bear market is traditionally defined as a 20% decline from a recent high.
On Friday, the Dow Jones plunged below 30,000, effectively erasing all of the stock market's gains since President Joe Biden took office.
