This Stock Market Feels Like a Bear. Why There Could Be More Downside Ahead.


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It could be very difficult for Powell and the Fed to tame inflation without causing an economic slowdown.


Photo illustration by Barron’s staff; (reference) Dreamstime (5)

Like Winnie the Pooh in the Hundred Acre Wood, investors have lived with the naive worldview that everything will be all right. That kind of thinking can you get mauled in a bear market.

The Nasdaq Composite is already in a bear market, and the S&P 500 is likely to do the same, even if it hasn’t met the precise definition of a 20% drop just yet. The index, after all, has fallen 14% from its January all-time high after dropping 0.2% this past week, while nearly half of the stocks within it have declined at least 20%, as their…


Roy Walsh

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