A bear market is hitting Wall Street. Here’s what that means
By STAN CHOE and ALEX VEIGA
AP Business Writers
NEW YORK (AP) — Investors on Wall Street need a place to hide. The stock market’s skid this year has pulled the S&P 500 within the grasp of what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks. A bear market is a term used by Wall Street when a market index has fallen 20% or more from a recent high. During Friday afternoon trading, the S&P 500 was down 20.3% from the record high set on Jan. 3.
