A grizzly bear at the New York Zoological Society on March 14, 2001. (Photo by Richard B. Levine)
NY: Grizzly bears represent the bear market
NEW YORK (AP) — Wall Street was headed for more losses at the open following the previous day’s rout as investors remained anxious over the impact of persistent high inflation on corporate profits and consumer spending. Futures for the S&P 500 and Dow Jones Industrial Average were 0.9% lower Thursday before the bell. Shares in Europe and Asia fell sharply after a broad retreat on Wall Street a day ago. On Wednesday, the Dow sank more than 1,100 points, or 3.6%. The S&P 500 had its biggest drop in nearly two years, shedding 4%, and the tech-heavy Nasdaq fell 4.7%.
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