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Wednesday, August 10, 2022

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‘Build Bear Bigger’ – S&P 500 Plunges 20% From Record Highs, Enters Bear Market

Courtesy of ZeroHedge View original post here.

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?

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