The S&P 500 has tumbled into dreaded bear-market territory
If the S&P 500 confirms a bear market on Monday, it would be the second-fastest drop in history, behind only the March 2020 pandemic crash.
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- The S&P 500 officially entered bear market territory on Monday.
- Stocks have cratered since last Wednesday's tariff announcement, with the selling continuing on Monday.
- The Nasdaq 100 ended Friday's session in a bear market.
The S&P 500 entered bear market territory on Monday amid the Trump tariff chaos.
A bear market is defined as a 20% decline from a record high on a closing basis. The S&P 500 peaked at 6,144 on February 19, putting the bear market "line in the sand" for the benchmark index at about 4,915.
The S&P 500 opened 4% lower on Monday, with investors uninspired by the mixed messaging from White House officials over the weekend.
While Kevin Hassett, President Trump's economic advisor, discussed the potential for negotiations in an interview over the weekend, Commerce Secretary Howard Lutnick reiterated that the tariffs are here to stay.
The S&P 500 traded down to 4,870 shortly after the opening bell on Monday, down 21% from its record high. The tech-heavy Nasdaq 100 officially entered a bear market on Friday.
According to data from Michael Reinking, senior market strategist at the New York Stock Exchange, this is the second-fastest bear market in history, only behind the March 2020 pandemic bear market.
The biggest stock losers on Monday included:
- Robinhood: -10.5%
- Strategy (formerly MicroStrategy): -11.6%
- Palantir: -7.4%
- AT&T: -5.9%
- Nvidia: -5.9%
- Walmart: -2.1%
- Tesla: -8.4%
