LAS VEGAS (KLAS) — Investors are waiting to see what Thursday brings after the stock market tumbled nearly 1,200 points or around 3.6%. It was the biggest loss since June 2020.
Stocks fell in early morning trading and have stayed that way.
The S&P 500 has dropped 18% from the record high set at the beginning of 2022.
According to analysts, the market is responding to inflation worries, rising interest rates, and retailers such as Target and Walmart who missed earning projections. Target lost a quarter of its value.
The recent slide has the S&P moving toward a bear market which is what Wall Street calls a sustained downturn.