The tech-heavy Nasdaq composite fell into bear market territory after a 3.6% tumble Monday.A bear market is Wall Street's term for a 20% decline from a recent high. It's a more acute market slump than a "correction," which is a fall of 10% or more.
But spiritually the onset of a bear market is much more. It marks a sharp shift in the mood music of the markets. The dour, the sour and the short-sellers of the world see their worldview validated by the market's inability to rally.So far, the Nasdaq composite has suffered a worse beating than the broader S&P 500, which is only down 12.4% from its Jan. 3 high.
That's probably because the tech stocks that drive the performance of the Nasdaq tend to be especially sensitive to rising interest rates, which we've had in recent months.
that was expected. its a war happening out there