Wall Street Enters A Bear Market As The S&P 500 Dives 3.9%
NEW YORK (AP) — Wall Street entered a bear market Monday as the S&P 500 sank 3.9%, bringing it more than 20% below the record high it set in January. Fears about a fragile economy and stubbornly high inflation have slammed the stock market in recent days and sent Treasury yields surging to their highest levels in years. A report last week that inflation was getting worse, not better as many had hoped, sent a chill through markets that carried over into this week. Investors expect the Federal Reserve will get more aggressive to get inflation under control, even if it risks a recession.