NEW YORK (AP) — Investors on Wall Street want a spot to cover.
The inventory market’s skid this yr has pulled the S&P 500 near what’s referred to as a bear market.
Rising rates of interest, excessive inflation, the struggle in Ukraine and a slowdown in China’s financial system have induced traders to rethink the costs they’re prepared to pay for a variety of shares, from high-flying tech firms to conventional automakers.
A bear market is a time period utilized by Wall Street when a market index has fallen 20% or extra from a current excessive. The S&P 500 is now down 18.2% from the file excessive set on Jan. 3.