S&P 500 Falls Into Bear Market Territory

“Stocks dropped on Friday, pushing the S&P 500 into a bear market for the first time since early in the pandemic, as investors feared the effects of higher inflation, rising interest rates and the risk of a recession,” the New York Times reports.

“The S&P 500 was down about 1.6 percent in intraday trading, pushing the benchmark index into bear market territory, a Wall Street term for a 20 percent decline from a recent peak — in this case, since Jan. 3.”