Markets tumble worldwide, bear market nears on Wall Street

NEW YORK — Wall Street is tumbling even more Monday, sending the S&P 500 down more than 20% from its record, on worsening fears about a possible recession given how stubborn inflation has become.

No one thinks the Fed will stop there, with markets bracing for a continued series of bigger-than-usual hikes.

The pain was worldwide as investors braced for more aggressive moves from a coterie of central banks. On Wall Street, the S&P 500 was 21.3% below its record set early this year. If it finishes the day more than 20% below that high, it would enter what investors call Bears hibernate, so bears represent a market that’s retreating, said Sam Stovall, chief investment strategist at CFRA. In contrast, Wall Street’s nickname for a surging stock market is a bull market, because bulls charge, Stovall said.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: WTVYNews4 - 🏆 590. / 51 Read more »

Crypto Markets Dump Below $1T as BTC and Altcoins Fall by Double Digits (Market Watch)The cryptocurrency market cap has slumped to an 18-month low of its own beneath the coveted $1 trillion mark. DylanBeattie00 DanielC82569286 😮
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Billionaire Stan Druckenmiller Prefers Bitcoin Over Gold in 'Inflationary Bull Market' – Markets and Prices Bitcoin NewsIn an inflationary bull market, 'I would want to own bitcoin more than gold,' said Druckenmiller. crypto cryptocurrency inflation $BTC It workkkkkksss MATICx1O Thanks so much fooooorrrr this gift MATICx1O Thanks so muchhhhhhh for this gift MATICx1O
Source: BTCTN - 🏆 531. / 51 Read more »