Wall Street Sinks into Bear Market, Recession Possible as Americans Dip into Savings to Pay Bills
WASHINGTON – After a dismal start to the week on Wall Street, there are growing fears a recession could be coming, and a big decision anticipated Wednesday from the Federal Reserve is causing even more concern.
The S&P 500, the index tied to most 401K retirement plans, finished down nearly four percent Monday and has now plunged more than 20 percent for the year, officially entering bear market territory.
“The overall takeaway is that the recession risk has risen and it looks like it’s going to be a lot harder than anyone anticipated initially,” said Ed Moya, a senior market analyst at Oanda.
Read the full story from CBN’s Jenna Browder:
https://www1.cbn.com/cbnnews/us/2022/june/wall-street-sinks-into-bear-market-recession-possible-as-americans-dip-into-savings-just-to-pay-soaring-bills
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