All three indexes fell after worse-than-expected inflation data raised expectations the Fed will need to continue raising interest rates aggressively to bring prices under control.
Companies are bracing for potential trouble ahead by lowering their advertising budgets, cutting costs and adapting to their customers' changing spending habits.
All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.
Stocks fell sharply on Monday after a stronger-than-expected inflation report spooked investors. The S&P 500 entered a bear market once again after briefly dipping into one last month.
She became one of Wall Street's most successful stock pickers during the pandemic, with millions of followers in social media, but Wood is struggling this year and facing intense scrutiny.
The S&P 500, one of the broadest stock market indexes, entered a bear market during Friday's trading. That means it had fallen a stunning 20% from a recent high in January.
The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.