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S&P 500 notches new closing low for 2022, Dow falls into bear market as dollar surges

Interest rates surge, turmoil rocks global currencies

By WND News Services
Published September 26, 2022 at 4:36pm

(Image by Oleg Gamulinskiy from Pixabay)

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(CNBC) -- The S&P 500 notched a new closing low for 2022 and the Dow Jones Industrial Average slipped into a bear market as interest rates surged and turmoil rocked global currencies.

The S&P 500 declined 1.03% to 3,655.04, falling below the June closing low of 3,666.77. At one point during the day, the index dipped to 3,644.76, less than eight points away from its intraday low of 2022: 3,636.87.

The Dow dropped 329.60 points, or 1.11%, to 29,260.81 — accelerating losses in the final moments of trading. The 30-stock index is down about 20.4% from its Jan. 4 closing high. The Nasdaq Composite fell 0.60% to 10,802.92.

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