S&P 500 slides into a bear market as recession worries ramp up
stocksturned sharply lower Friday, pushing the S&P 500 into a bear market.
- The Dow and the S&P 500 were on track to stretch weekly declines.
The S&P 500 on Friday sank into a bear market as a ramp-up in recession worries prompted investors to drag down shares of the most valuable public companies in the US and worldwide.
The broad-based index reversed gains and fell to an intraday low of 3,810.32, logging a 20% decline from the all-time high it hit in early January. 10 of the index's 11 sectors dropped, led by a slide in the consumer discretionary and industrial groups.
The S&P 500 was also veering toward a seventh week of losses, and the Dow was looking at an eighth consecutive weekly decline, the longest run of such declines since 1923, according to Bloomberg.
Here's where US indexes stood at 2:00 p.m. on Friday:
Stablecoin tether has added more than $250 million in non-US government debt to its reserves.
Bitcoin slipped less than 0.1% to $30,200.46.
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