The Dow Jones Industrial Average, an index that tracks the performance of major stocks, fell by nearly 330 points on Monday, slipping into bear market territory. The DJIA is down 20.5 percent to 29,260.81 from its January 4th record high close of 36,799.65.
The S&P 500 also set a new closing low for 2022 on Monday, falling to 3,655.04. The Nasdaq Composite, the third of the three “headline” stock indices, also measured a significant selloff.
In August, the U.S. technically entered a recession after real gross domestic product (GDP), the main measure of output in the economy, experienced two consecutive quarters of negative real growth.
Let's go, Brandon!!