(TheRedAlertNews.com) – ALERT: As a new week gets underway, the stock market in the United States is tanking, with the benchmark S&P 500 falling back into bear territory.
As CNBC notes at the mid-morning mark:
“Stocks tumbled Monday, pushing the S&P 500 back into bear market territory, as the major averages came off their worst week since January.
“The Dow Jones Industrial Average dropped 640 points, or 2%, the S&P 500 fell 2.6% and the Nasdaq Composite tumbled 3.2%.
“The S&P 500 hit a new intraday low for the year and was off nearly 21% from its record, back in bear market territory after trading there briefly on an intraday basis about three weeks ago. The benchmark now sits more than 20% from its January record close. If it finishes there on Monday, it will confirm a bear market to many on Wall Street.” [emphasis added]
Today’s sell-off is almost completely across the board as 26 NYSE stocks are currently trading lower for every stock in the green.
THIS IS A BREAKING NEWS REPORT FROM RED ALERT NEWS.
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