Market Snapshot: Dow on pace for a bear market close as stocks slide on rate, currency and economic worries

by | Sep 26, 2022 | Stock Market

U.S. stocks fell Monday, with tech shares failing to hold a morning bounce and the Dow Jones Industrial Average on track to finish the trading session in a bear market.What’s happening
The Dow Jones Industrial Average
was down 311 points, or 1.1%, at 29,279 and trading near the session’s low. A close at or below 29,439.72 would mark a 20% pullback from its Jan. 4 record close, meeting widely used criteria for entering a bear market.

The S&P 500
fell 34 points, or 0.9%, to 3,660 after dipping below its June 16 closing low of 3,666.77 on Friday, but finishing above that level.

The tech-heavy Nasdaq Composite
fell 41 points, or 0.4%, to 10,827.

Stocks fell sharply last week, with the Dow down 4% and ending Friday at its lowest level since November 2020. The S&P 500 fell almost 4.7% and the Nasdaq Composite dropped 5.1% last week.

What’s driving markets Stocks were under pressure Monday on worries about rising borrowing costs, while the surging dollar continued to wreak havoc around the world. The …

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