Dow sinks 600 points and stocks enter bear market on worries of drastic rate hikes
CNN
US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.
The Dow (INDU) sank 600 points, or 2.1%, and the Nasdaq fell 2.9%.
The broader S&P 500 fell 2.4%. That index is now more than 20% below its all-time high set in January, putting stocks in bear-market territory.
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