Fears about a possible recession are pounding markets Monday, and Wall Street’s S&P 500 tumbled into the maw of what’s known as a bear market after sinking more than 20% below its record set early this year.
The S&P 500 dropped 2.4% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was down 530 points, or 1.7%, at 30,876, as of 12:37 p.m. Eastern time, and the Nasdaq composite was 2.9% lower.
