The Nasdaq composite, a benchmark that’s heavily weighted toward tech stocks, is already in bear market territory — having ended last week down 26 percent from its mid-November record.
Swings in the stock market have become amplified lately, as investors worry that inflation and fast-rising interest rates could hit spending, profits and — ultimately — economic growth.
The S&P 500 is heading for its worst monthly decline since March 2020, as rising interest rates and high inflation raise concerns about consumer sentiment.
Big technology companies are set to report earnings starting Tuesday. The S&P 500 has dropped nearly 8 percent this month, its worst monthly showing since March 2020.
This year’s decline in stock prices follows a historical pattern: “When unemployment is ultra low, the uppity times are behind us,” a bank research chief said.