'Build Bear Bigger' - S&P 500 Plunges 20% From Record Highs, Enters Bear Market
3rd time's the charm...
Having tried and failed twice before in the last week, the S&P 500 has broken down below the 'Maginot Line' of 3855 and officially entered 'bear market territory' - trading down at its lowest since March 2021...
Next stop 3815 (Fib 38.2% retrace of the post-COVID rally)...
The S&P joins the Russell 2000 (-28%) and Nasdaq (-30%) in bear market with The Dow down 16%...
While we know that President Biden doesn't watch the stock market like his predecessor (or so he says), we do...
How much more pain will Powell endure?
two hikes in and we are at a bear market, and QT hasn't even started.
— zerohedge (@zerohedge) May 20, 2022
"9 or 10 hikes more" pic.twitter.com/AY0ASDggqw
