Stocks Continue to Slip , on Wall Street, , Edging Closer to Bear Market.
On May 19, Wall Street saw stocks fall
in early morning trading, worsening
a slump experienced by major indexes.
On May 19, Wall Street saw stocks fall
in early morning trading, worsening
a slump experienced by major indexes.
ABC News reports that the drop
comes as record-high inflation
continues to weigh down the economy.
ABC News reports that the drop
comes as record-high inflation
continues to weigh down the economy.
The S&P 500 fell 0.4%
and is down almost 19% from
a record high set earlier this year.
The S&P 500 fell 0.4%
and is down almost 19% from
a record high set earlier this year.
ABC News reports that this is just
one point shy of the 20% drop
that defines a bear market.
The Dow Jones Industrial Average
dropped 0.9%, losing 279 points.
Target lost an additional 3.6%
just one day after losing a quarter
of its value due to a weak profit report. .
Investors have reportedly been spooked by rising
interest rates, record inflation, Russia's war in Ukraine
and strict COVID lockdowns halting China's economy.
Investors have reportedly been spooked by rising
interest rates, record inflation, Russia's war in Ukraine
and strict COVID lockdowns halting China's economy.
These fears have caused stocks
in everything from major tech companies
to traditional automakers to plummet.
These fears have caused stocks
in everything from major tech companies
to traditional automakers to plummet.
According to ABC, investors have been concerned
that soaring inflation and energy costs will
impact consumers' purchasing power.
The Federal Reserve aggressively raising
interest rates has also led to concerns that
the U.S. central bank could cause a recession.
The Federal Reserve aggressively raising
interest rates has also led to concerns that
the U.S. central bank could cause a recession