S&P 500 index tumbles about 4% to close in a bear market


U.S. stocks closed sharply lower Monday, with the S&P 500 entering a bear market, amid heightened fears over high inflation ahead of the Federal Reserve’s two-day policy meeting that kicks off Tuesday. The Dow Jones Industrial Average DJIA, -2.79% tumbled almost 900 points to close 2.8% lower, while the S&P 500 SPX, -3.88% dropped 3.9% and the Nasdaq Composite COMP, -4.68% plunged 4.7%, according to preliminary FactSet data. All 11 sectors of the S&P 500 closed lower, with investors increasingly concerned that a more aggressive Fed will push the U.S. economy into a recession.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleSignature Bank stock sinks to lead S&P 500 losers as financial sector, bitcoin drop
Next articleThe Wall Street Journal: Morgan Stanley’s Gorman ‘pretty relaxed’ about possible recession, thinks one wouldn’t be long or severe


Please enter your comment!
Please enter your name here