This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen.
Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy. The S&P 500 fell 14.15, or 0.4%, to 3,735.48 as investors braced for the Federal Reserve’s announcement on Wednesday about
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. The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning