Stocks enter bear market on worries of drastic rate hikes

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US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.


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The Dow (INDU) sank 750 points, or 2.4%, and the Nasdaq fell 3.7%.

Friday’s miserable Consumer Price Index report showed US inflation was significantly higher than economists had expected last month, which could make the Federal Reserve’s inflation-control efforts more difficult.

Read more at CNN.com

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!