Another volatile day on Wall Street ended with more losses for stocks Thursday, drawing the S&P 500 closer to its first bear market since the beginning of the pandemic.
Another volatile day on Wall Street ended with more losses for stocks Thursday, drawing the S&P 500 closer to its first bear market since the beginning of the pandemic. The index, a benchmark for many funds, fell 0.6% after easing off a deeper stumble. The latest decline came a day after the S&P 500 had its biggest drop in nearly two years. It’s now down 18.7% from the record high it set early this year and is nearly at the 20% threshold that defines a bear market. The Dow Jones Industrial Average fell 0.8% and the Nasdaq slipped 0.3%. The indexes have remained mired in a deep slump as investors worry that the soaring inflation that’s hurting people shopping for groceries and filling their cars up is also walloping profits at U.
