SA: Wall Street's Fed panic: S&P 500 bear market, Dow drops nearly 900 points, Nasdaq falls 4.7%

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SEEKING ALPHA writes:

Ongoing worries about inflation and an aggressive Federal Reserve sparked a massive stock selling spree on Monday, adding to the slide that marked the end of last week.

The Dow lost almost 900 points during the session. Meanwhile, the Nasdaq broke below 3,800 and recorded its lowest close since early 2021, with the index finishing the day in bear-market territory, down more than 20% from the high-water mark it set early this year.

The Nasdaq (COMP.IND) is -4.7%, the S&P (SP500) is -3.9% and the Dow (DJI) is -2.8%.

The Dow Jones plunged 876.05 points to close at 30,516.74. The S&P 500 retreated 151.23 points to end at 3,749.63. The Nasdaq concluded trading at 10,809.23, plummeting 530.80 points.

According to BTIG, the S&P 500 needed to hold 3,800 to avoid a swift drop to 3,400…

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