Markets tumble worldwide, bear market growls on Wall Street
The S&P 500 was 3.8% lower in the first trading after investors had the weekend to reflect about a stunning report that showed inflation is getting worse, not better as some had hoped. The technology-focused Nasdaq Index, which entered bear market territory in March, dropped 4.5%. Dow Jones declined 2.8%, or nearly 900 points.
Wall Street poised to clinch bear market as S&P 500 tumbles
NEW YORK - The benchmark S&P 500 was down more than 20% from its Jan. 3 record closing high in midday trading on Monday, as investors sold stocks amid worries over whether the Federal Reserve will be able to tame inflation without triggering a recession. A close of more than 20% below the record high would confirm the index was in a bear market, according to a commonly-used definition.