U.S. stocks set a new low, with the S&P 500 tumbling
After flirting with the bear market for weeks, the S&P 500 finally tumbled below the key 3,600 level on Tuesday, setting a new low for the year
The benchmark 10-year Treasury yield also continued to climb, hitting levels not seen in over a decade.
It’s been a rough few months for the stock market, as economic uncertainty and rising inflation fears have weighed on investor sentiment. And with bond yields continuing to rise, it doesn’t look like things are going to get any better anytime soon.
So far in 2021, the S&P 500 is down over 5%.
But if you’re feeling discouraged, remember that this is just a temporary setback. The market will eventually recover and reach new highs.
