By TheStreet Staff What Are Doom and Gloom?“Doom and gloom,” or “gloom and doom,” is an expression used to describe a pessimistic or negative outlook on financial markets or the economy, typically following a precipitous decline in a financial asset’s benchmark or measure. It is most commonly associated with the U.S. stock market, particularly whenever the Dow Jones Industrial Average, a benchmark stock index, declines significantly in a day or over a period of days. What Is the Origin of Doom and Gloom?The term “doom and gloom” reportedly first appeared in newspapers in the 19th century and g…