NEW YORK, Sept 27 — Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve’s aggressive campaign against inflation could throw the US economy into a sharp downturn.
“Investors are just throwing in the towel,” said Jake Dollarhide, Chief Executive Officer of Longbow Asset Management in Tulsa, Oklahoma. “It’s the uncertainty about the high-water mark for the Fed funds rate. Is it 4.
The S&P 500 has yet to drop below its intra-day low on June 17. It is down about 23 per cent so far in 2022.