Bear market hits Wall Street as stocks, bonds, crypto plunge

NEW YORK — Wall Street tumbled into what’s called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year.

With the Fed seemingly pinned into having to get more aggressive, prices fell in a worldwide rout for everything from bonds to bitcoin, from New York to New Zealand. Some of the sharpest drops hit what had been big winners of the easier low-rate era, such as high-growth technology stocks and other former darlings of investors. Tesla slumped 7.1%, and Amazon dropped 5.5%. GameStop tumbled 8.4%.

No one thinks the Fed will stop there, with markets bracing for a continued series of bigger-than-usual hikes. Those would come on top of some discouraging signals about the economy and corporate profits, including a record-low preliminary reading on consumer sentiment soured by high gasoline prices.

The 10-year yield jumped to 3.37% from 3.15%, and the higher level will make mortgages and many other kinds of loans more expensive. It touched its highest level since 2011. Some of the biggest hits came for cryptocurrencies, which soared early in the pandemic as ultralow rates encouraged some investors to pile into the riskiest investments. Bitcoin tumbled more than 14% from a day earlier and dropped below $23,400, according to Coindesk. It’s back to where it was in late 2020 and down from a peak of $68,990 late last year.

The S&P 500 has lost nearly 9% in just three days. That’s its worst such stretch since the earliest days of the coronavirus crash in March 2020. The Dow lost 876.05, or 2.8%, to 30,516.74 on Monday, and the Nasdaq composite dropped 530.80, or 4.7% to 10,809.23.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Markets tumble worldwide, bear market nears on Wall StreetWall Street is tumbling even more Monday, sending the S&P 500 down more than 20% from its record, amid fears that a recession is more likely given how unshakeable inflation has become.
출처: WTVYNews4 - 🏆 590. / 51 더 많은 것을 읽으십시오 »

Markets tumble worldwide, bear market nears on Wall StreetThe Federal Reserve meets again this week and investors are expecting more aggressive moves to slow down the economy with higher interest rates.
출처: wsfa12news - 🏆 338. / 59 더 많은 것을 읽으십시오 »

Markets tumble worldwide, bear market growls on Wall StreetFears about a possible recession are pounding markets worldwide on Monday, and Wall Street’s S&P 500 tumbled into the maw of what’s known as a bear market after sinking more than 20% below its record set early this year We need Trump back. Low gas prices, high stock market. More money in our pockets. Anyone who votes democrat from here on out is mentally challenged.
출처: ActionNewsJax - 🏆 436. / 53 더 많은 것을 읽으십시오 »

Bear market growls on Wall Street as stocks and crypto diveFears about a fragile economy are forcing Wall Street toward what’s known as a bear market, with the S&P 500 tumbling more than 20% below its record set early this year
출처: WOKVNews - 🏆 247. / 63 더 많은 것을 읽으십시오 »

S&P 500 nears bear market territory as stock prices tumble worldwideWall Street is tumbling even more today. The S&P 500 is down more than 20% from its record, amid fears that a recession is more likely given how unshakable inflation has become.
출처: PhillyInquirer - 🏆 81. / 68 더 많은 것을 읽으십시오 »