S&P 500 sinks into bear-market territory as recession fears pound US stocks

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Bear market – a plummet of 20% or more – comes as investors fret about high inflation and possibility of further rate increases

, which is scrambling to get inflation under control. Its main method is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.

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How low will the US stock markets go? How about the global markets? Should we blame Putin’s war? Inflation? Excessive Covid lockdowns? The US Fed? Congress? Excessive spending? Biden? How did so many smart folks get inflation so wrong?

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