Wall Street poised to clinch bear market as S&P 500 tumbles

The benchmark S&P 500 was down more than 20% from its Jan. 3 record closing high in early trading Monday as investors sold stocks amid worries over whether the Federal Reserve will be able to tame inflation without triggering a recession.

Stocks have been volatile since the start of the year, with Russia’s invasion of Ukraine in late February also taking a heavy toll on markets. On Friday, major U.S. stock indexes posted their biggest weekly percentage declines since January and ended sharply lower on the day after a report showed steeper-than-expected rise in U.S. consumer prices in May.

With a break below the year’s low and a move below 3,850, “we see potential downside in the S&P 500 to a little over 3,200,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, wrote in a note.This year’s downturn is a pivotal shift for the market after its swift and strong post-pandemic rally. The S&P 500 rose 114.38% from its closing low on March 23, 2020, to its Jan. 3 record closing high this year.

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Stock declines signal a bear market. Here is what that meansWall Street is opening the week with more losses, and the S&P 500 has fallen to a level that market observers consider to be a bear market. buy the dip 🤦🏿‍♂️🤦🏿‍♂️👆🏾 headlines for newbies, lol yall just start trading the markets been on decline since last year.. we been in a bear market it usually last 14 months Let's recount what the Fed / Bank of Canada have done to stop inflation, which punishes the lower and middle class more than the rich. Raised interest rates to punish the lower and middle class. Mortgages cost more, investments are worthless. Rich people, unaffected.
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