An uncanny streak for the Dow Jones Industrial Average, which had underlined its bullish momentum, ended on Monday, signaling that a bearish turn may be at hand.

The Dow DJIA, +0.35% closed sharply lower, falling around 328 points, or 1.3%, to 24,252.80, below its 200-day moving average, which stood at 24,280.02. That represents the first close below the average since the summer of 2016, when the U.K. vote to exit from the European Union sent shivers through global markets.