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NEW YORK — Wall Street The S&P 500 fell 3.9% on Monday to enter a bear market, putting it more than 20% below the record high it set in January.
Fears about a fragile economy and stubbornly high inflation have hit the stock market in recent days, causing Treasury yields to hit their highest level in years.
A report last week that inflation is getting worse, not as good as many had hoped, has put a standoff in the markets that has moved into this week. Investors expect the Federal Reserve to act more aggressively to contain inflation, even if it risks a recession.
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