The center of Wall Street’s focus was again on the Federal Reserve, which is scrambling to get inflation under control. On Wall Street, the S&P 500 was 21.7% below its record set early this year. If it finishes the day more than 20% below that high, it would enter what investors call a bear market. In contrast, Wall Street’s nickname for a surging stock market is a bull market, because bulls charge, Stovall said. The last bear market wasn’t that long ago, in 2020, but it was an unusually short one that lasted only about a month.

Source: CNN June 13, 2022 16:54 UTC