The S&P 500 fell into bear market territory Friday, slipping more than 20% from its record high and potentially ending the bull run that began in March 2020
New York The S&P 500 fell into bear market territory Friday, slipping more than 20% from its record high and potentially ending the bull run that began in March 2020.
The designation comes on the heels of six straight weekly losses for the index and follows months of precipitous market drops. The S&P 500 has long been considered the most accurate measure of the nation's stock performance. In the three years prior to this bear market, the index grew by 90%.Downward momentum pushed the S&P 500 further in afternoon trading, down more than 2% for the day and 20.3% from its record-high close of 4,796.46 in early January.
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