{"id":1485658,"date":"2022-05-20T12:44:51","date_gmt":"2022-05-20T16:44:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1485658"},"modified":"2022-05-20T12:44:52","modified_gmt":"2022-05-20T16:44:52","slug":"bidenomics-sp-500-falls-20-below-all-time-high-enters-bear-market","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-sp-500-falls-20-below-all-time-high-enters-bear-market\/","title":{"rendered":"Bidenomics: S&#038;P 500 Falls 20% Below All Time High, Enters Bear Market"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-sp-500-falls-20-below-all-time-high-enters-bear-market%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1485658&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"group\">\n<p>U.S. stocks fell to new lows for the year on Friday on rising fears of a recession with the relentless market sell-off now pushing the S&#038;P 500 20% below its all-time high in January.<\/p>\n<p>The S&#038;P 500 traded about 1.4% lower on Friday, putting it 20.1% below its intraday record reached in January. To some that puts the benchmark in bear market territory, but there is no official designation. The benchmark would need to fall a little further to mark a 20% decline on a closing basis, which many strategists say marks a real bear market. At last count, the S&#038;P 500 was down 19.8% from its record January close.<\/p>\n<p>The Dow fell 347 points, or 1.1%, with the benchmark losing steam after a strong open and bringing its total loss from its record to 16%. The Nasdaq Composite dipped 1.9% and is already deep in bear market territory, trading 31% off its highs.<\/p>\n<p>For the week, the Dow is off by 4% for what would be its first 8-week losing streak since 1923. The S&#038;P 500 is also down 4% for the week, while the Nasdaq is off by 5%. Both indexes are on pace to fall for a seventh-straight week.<\/p>\n<p>&#8220;Stocks are still liberally priced and the psychology that drove them upward for a decade has turned negative,&#8221; wrote George Ball, chairman at investment firm Sanders Morris Harris. &#8220;The average bear market lasts a year (338 days, more precisely). This downturn has run for only one-third of that, so it probably has more downside room to run, albeit punctuated by interim rallies.&#8221;<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"ChartSlate-chartSlateContainer\">\n<h3>Loading chart&#8230;<\/h3>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Stocks were under pressure again Friday as concerns of rising interest rates and an aggressive stance against inflation by the Federal Reserve had investors worried the economy could fall into a recession.<\/p>\n<p>Wall Street dumped shares of semiconductor stocks Friday. Shares of Nvidia fell 5%, Advanced Micro Devices declined 4%, and Marvell Technology slipped more than 2%.<\/p>\n<p>Bank stocks also declined. Shares of JPMorgan Chase dropped 1% and Bank of America fell nearly 2%.<\/p>\n<p>Elsewhere, shares of Deere also fell 7% on Friday after the heavy equipment maker reported a revenue miss. However, the company beat on earnings estimates and raised its annual profit outlook. Shares of Caterpillar also declined more than 3%. Industrials like Deere and Caterpillar are seen as barometers for the global economy.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"ChartSlate-chartSlateContainer\">\n<h3>Loading chart&#8230;<\/h3>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Retailers also continued to get hit this week after the most recent quarterly figures from Walmart and Target raised concerns about a weakening consumer base and the ability for companies to deal with decades-high inflation. Target and Walmart are down sharply after posting their quarterly results this week.<\/p>\n<p>&#8220;When you can&#8217;t hide in Hershey (205), you pretty much can&#8217;t hide. The idea of a 25% hit to Target (153) is one thing, but hits to Microsoft (253) and Apple (137) may have done greater damage to the investor psyche. It&#8217;s that helpless, all is lost feeling that gets you to a give up or capitulation phase, and after all that&#8217;s what lows are about \u2013 the selling, not the buying,&#8221; wrote Frank Gretz, technical analyst at Wellington Shields.<\/p>\n<p>Ross Stores was the latest retailer to fall after posting earnings. The stock was down 20%. CEO Barbara Rentler said that &#8220;following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter.&#8221;<\/p>\n<p>Meanwhile, the Federal Reserve has signaled it will continue to raise interest rates as it tries to temper the recent inflationary surge. Earlier in the week, Chair Jerome Powell said: &#8220;If that involves moving past broadly understood levels of neutral, we won&#8217;t hesitate to do that.&#8221;<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Stock picks and investing trends from CNBC Pro:<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>That tough stance on monetary policy has stoked concern this week that the Fed&#8217;s actions could tip the economy into a recession. On Thursday, Deutsche Bank said the S&#038;P 500 could <a href=\"https:\/\/www.cnbc.com\/2022\/05\/19\/deutsche-bank-cuts-baseline-market-forecast-and-sees-sp-500-at-3000-if-theres-a-recession.html\">fall to 3,000 if there is an imminent recession<\/a>. That&#8217;s 23% below Thursday&#8217;s close.<\/p>\n<p>Stocks have struggled to find their footing for roughly two months. The Nasdaq is 27% below its record and the Dow is off by 14% from its high.<\/p>\n<p><em>Subscribe<\/em> <a href=\"https:\/\/www.cnbc.com\/application\/pro\/\"><em>to CNBC PRO<\/em><\/a> <em>for exclusive insights and analysis, and live business day programming from around the world.<\/em><\/p>\n<p><em>Correction: The Dow was on pace for its first eight-week losing streak since 1923. A previous version misstated the year.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,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\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks fell to new lows for the year on Friday on rising fears of a recession with the relentless market sell-off now pushing the S&#038;P<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1485658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1485658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1485658"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1485658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1485658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1485658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1485658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}