For the first time since 2020, the S&P 500 Index has fallen into a bear market as investors’ recession fears continue to mount.
The S&P 500, which market analysts consider is the best measurement of the overall U.S. stock market, tumbled about 2 percent on Friday, trading around 3,800. Year-to-date, the index is down 20 percent.
Some of the top names listed on the S&P 500 are Amazon, Microsoft, Home Depot, JPMorgan Chase, and Johnson & Johnson.
The S&P 500 now joins the tech-heavy Nasdaq Composite Index in the bear market territory. The Nasdaq has plummeted nearly 29 percent so far this year, staying just above 11,000. The Dow Jones Industrial Average, weighted in favor of banks and industrials, is not too far behind its benchmark index counterparts as it has declined about 15 percent to below 31,000….