- The S&P 500 closed down 151 points at 3,749.84 on Monday, notably below the 3,798.91 level, which is where it closed on Jan. 19, 2021.
- The Dow Jones index also fell below the pre-inauguration levels of 31,930 to 30,516 on Monday.
- The Nasdaq index fell below the pre-inauguration levels of 13,197 long ago.
- Monday’s market plunge put the S&P back in bear market territory and hit a new 52-week low. It was part of a broader financial downturn that saw the DJIA fall 876 points and Nasdaq tumble 530.
- The drops come as the 2-year Treasury yield rose to its highest level since 2007, as investors anticipate the Federal Reserve taking more aggressive action to control inflation.
- The Right Facts will continue to monitor markets.