The Stock Market Plummets

It was a grim day on Wall Street as fears about inflation continually increase. The S&P 500 entered into a bear market, dropping more than 20% from its most recent high. Other indexes, such as the Dow Jones Industrial Average and the Nasdaq, also slumped. The falls were a result of a stronger-than-expected inflation report, which causes concern that the Federal Reserve will need to raise interest rates even more aggressively.