Wall Street could be headed for a bear market. Here's what that means.
CBSN
Wall Street could soon be in the claws of another bear market as the Trump administration's tariff blitz fuels fears that the added taxes on imported goods from around the world will sink the global economy.
The last bear market occurred in 2022, but the current decline is more similar to the sudden, turbulent bear market of 2020, when the benchmark S&P 500 index tumbled 34% in a one-month period, the shortest bear market ever.
A bear market is a Wall Street term used to describe a market downturn when a stock index, such as the S&P 500 or the Dow Jones Industrial Average, has fallen 20% or more from a recent high for a sustained period of time.
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On this "Face the Nation with Margaret Brennan" broadcast:
The following is the transcript of an interview with retired Gen. Frank McKenzie that aired on "Face the Nation with Margaret Brennan" on June 22, 2025.
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This story previously aired on July 3, 2021. It was updated on June 17, 2025. NEWS REPORTS: The brutal murder of the Pelley family … Shot to death in their home Sunday morning … It thrust a small town into the national spotlight ... DET. BOTICH [ interrogation]: So. do you know who killed your mother and father, or your father and stepmother? DET. BOTICH [interrogation]: Did you have anything to do with it? NEWS REPORT: Tuesday lawyers laid out their cases to the jury in opening statements. NEWS REPORT: After calling more than 50 witnesses, prosecutors say all the facts point to Jeff Pelley. NEWS REPORT: The prosecutor started his closing argument letting the jury know it was his burden to prove the case. NEWS REPORT: But now the burden of deciding Jeff Pelley's fate is theirs. NEWS REPORT: One of Pelley's lawyers says his client is under a lot of stress now that the jury has the case.
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